China-based healthcare analytics company iCarbonX raised RMB1bn ($154m) in a series A round yesterday led by internet company Tencent, Netease Tech reported yesterday.
The round also included biotechnology producer Vcanbio Cell & Gene Engineering Corporation. A report in January this year suggested the round would be sized at $106m and would value iCarbonX at $760m.
Founded in October 2015, iCarbonX is working on a big data analytics platform that collects medical data and combines it with data from smart hardware and social and environmental factors to offer better insight into a user’s health.
Beyond the individual user, the company is hoping to produce medical breakthroughs by finding patterns in the data, which can be accessed by other companies and organisations such as hospitals and pharmaceutical companies.
The money will enable iCarbonX to produce and collect data, begin analysing it and further develop its artificial intelligence platform. The company is already testing some products in “one or two cities” according to DealStreetAsia.
The company had total assets of RMB10m as of December 2015, according to a regulatory filing. DealStreetAsia named Vcanbio as a returning investor, but has not disclosed further details.
Wang Jun, founder of iCarbonX, told Netease Tech: “I want to digitalise everyone’s life data, and then decipher that data for the valuable lessons, thus improving everyone’s quality of life.”