iCarbonX Valuation, Funding & Investors
iCarbonX is valued at $1.2B as of July 2016.
About iCarbonX
iCarbonX is a Beijing-headquartered developer of AI-powered digital health ecosystems combining genomic sequencing, wearable data, and machine learning for personalized wellness. The platform analyzes multi-omics data from partnerships with BGI Genomics to deliver health risk scores, disease predictions, and lifestyle recommendations via mobile apps. iCarbonX focuses on chronic disease prevention through continuous monitoring of biomarkers like blood glucose and heart rate variability.
Founded
2015
HQ
ShenzhenWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$1.2B (Jul 2016)
iCarbonX Valuation
iCarbonX is currently valued at $1.2B, based on its Series A in July 2016.
The $45M round was led by China Bridge Capital, with participation from ProCapital and Share Capital.
iCarbonX's valuation has grown 1.0x from $1.2B at its Series A in April 2016 to $1.2B in July 2016, across 2 priced rounds.
iCarbonX valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2016 | Series A | $1.2B |
| Apr 2016 | Series A | $1.2B |
iCarbonX Funding History
iCarbonX has raised a total of $200M across 2 funding rounds.
iCarbonX's first fundraising round was a $155M Series A in April 2016. The most recent completed round was a $45M Series A in July 2016.
iCarbonX funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2016 | Series A | China Bridge Capital (lead); ProCapital; Share Capital | $45M | $1.2B | iCarbonX is a Shenzhen-based healthcare startup founded in 2015 by Jun Wang, former CEO of BGI, and co-founder Yingrui Li, focusing on big data analysis and artificial intelligence applied to biological, behavioral, and psychological data for personalized health interventions, starting with skincare or cosmetics products and expanding to precision medicine. The company develops a platform leveraging synergies with Tencent on users, big data, and cloud computing. Tencent led its Series A round of approximately $154-155 million in April or January 2016, valuing iCarbonX at $1 billion, with participation from Vcanbio Cell & Gene Engineering Corporation including a $15 million investment. In July 2016, China Bridge Capital invested $45 million (RMB300 million), following the Series A, as part of efforts to support precision healthcare assets amid China's push for big data in healthcare standardization and precision medicine. China Bridge, founded by Zeng Qiang, also planned to raise $1.5 billion for a fund targeting precision healthcare investments. |
| Apr 2016 | Series A | Tencent (lead); VCANBIO | $155M | $1.2B | iCarbonX, founded in October 2015 by former BGI CEO Jun Wang and others including Yingrui Li, develops a big data analytics platform combining medical data, smart hardware, social, and environmental factors to provide health insights and enable medical breakthroughs for hospitals and pharma companies. The company completed a Series A round on April 12-13, 2016, raising approximately $154-155 million (RMB1 billion), led by Tencent with participation from Vcanbio Cell & Gene Engineering Corporation, valuing the less-than-six-month-old startup at $1 billion and marking it as biotech's first unicorn. Tencent will serve as a strategic partner for product development and WeChat data collection, while Vcanbio collaborates on genome sequencing. Funds will support data production and collection, AI platform development, computing enhancements, and initial product testing in Chinese cities, with plans for a cosmetics application based on skin samples launching that year. The company reported total assets of RMB10 million as of December 2015 per regulatory filings. iCarbonX aims for global expansion into the US and Europe via investments or acquisitions post-round. Positioned to leverage multi-omic datasets and AI for precision medicine, iCarbonX benefits from deep-pocketed backers amid high early valuations despite lacking a clear monetization model at the time. A prior January report suggested $106 million raise at $760 million valuation, but the final round exceeded expectations. Subsequent funding included a $45 million Series A-II in July 2016. |
Who has invested in iCarbonX?
5 investors have backed iCarbonX across its funding rounds, including Tencent, Share Capital, ProCapital, China Bridge Capital and VCANBIO.
Lead investors include China Bridge Capital and Tencent.
iCarbonX Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Beijing | 1 | Participant | Jul 2016 | |
| Shenzhen | 1 | Participant | Jul 2016 | |
| Shenzhen | 1 | Lead | Apr 2016 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by iCarbonX
iCarbonX has acquired 2 companies to date.
Last acquisition by iCarbonX was on January 6th 2017. iCarbonX acquired PatientsLikeMe for $100M.
Latest Acquisitions by iCarbonX
| Description | PatientsLikeMe is a health network platform integrating community support, treatment tracking, and real-world data for patients. It partners with major pharmaceutical firms and government bodies for research and policy input. Founded in 2004, the Boston-headquartered site publishes over 100 studies and serves conditions from ALS to mental health. | Imagu Vision Technologies is an Israel-based software firm specializing in object recognition for images and video across healthcare, semiconductors, security, and e-commerce. Its customizable solutions process diverse environments and sources for rapid deployment in industrial applications. |
| HQ Country |  |  |
| HQ City | Boston, MA | Tel Aviv |
| Deal Date | 6 Jan 2017 | 13 Sep 2016 |
| Valuation | $100M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all iCarbonX acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by iCarbonX
iCarbonX has invested in 6 companies to date.
Latest investment by iCarbonX was on June 22nd 2018. iCarbonX invested in Reach Media in their $15M Series B round.
Latest Investments by iCarbonX
| Description | Reach Media is an advertising and marketing agency based in Shanghai, China. Operating via reachmedia.cn, the startup delivers digital campaigns, content creation, and performance media buying for consumer brands in e-commerce and retail. Its services span WeChat mini-programs, Douyin ads, and cross-platform strategies targeting China's Gen Z audience. | SomaLogic is a Boulder-headquartered proteomics company offering SOMAscan assays for biomarker discovery. Its SOMAmer reagents detect over 7,000 proteins from 100 microliters of sample, applied in oncology, cardiovascular, neurology, and metabolic research. Founded in 1999, the company partners with Pfizer and Novartis and processed samples for over 1 million subjects in studies. | HealthLoop runs a SaaS platform for post-surgical patient monitoring, collecting symptoms, feedback, and progress data to flag risks of complications or readmissions. Physicians receive automated alerts via secure messaging. HealthLoop serves surgical practices with condition-specific care pathways. Founded in 2009 and based in Sunnyvale, California, it integrates with Epic and Cerner EHRs across US medical offices. | PatientsLikeMe is a health network platform integrating community support, treatment tracking, and real-world data for patients. It partners with major pharmaceutical firms and government bodies for research and policy input. Founded in 2004, the Boston-headquartered site publishes over 100 studies and serves conditions from ALS to mental health. | |
| HQ Country | | | | | |
| HQ City | Shanghai | Boulder, CO | San Francisco, CA | Boston, MA | |
| Deal Date | 22 Jun 2018 | 3 Jan 2018 | 15 May 2017 | 6 Jan 2017 | |
| Round | Series B | Undisclosed stage | Series B | Undisclosed stage | |
| Raised | $15M | $200M | $8M | undisclosed | |
| Investors | Kingkey Group; Jeneration Capital; Winner Technology | Nan Fung Life Sciences; Quest Diagnostics; Madryn Asset Management; Otsuka Holdings; ProQuest Investments; Visium Healthcare Partners | Summation Health Ventures; Lafayette General Health System; Oakhouse Partnaers; Canvas Prime; NextEquity Partners | Invus | |
| Valuation | undisclosed | undisclosed | undisclosed | $320M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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iCarbonX Competitors
iCarbonX competitors include listed companies like Tempus AI, XtalPi and Yidu Tech, and private ones like Ada, Glow and Motive.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Publicly listed | $1.3B | ($131M) | $15B | 10.1x | |
| China | Publicly listed | $120M | $22M | $3.8B | 21.5x | |
| China | Publicly listed | $122M | ($4M) | $449M | 1.2x | |
 Toronto | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | - | - | $1.2B | - | |
| San Francisco, CA | Private | $600M | - | $1.2B | - |
iCarbonX Public Comps
iCarbonX is still privately-owned, but its public comps include Omada Health, Optasia, Arcs Co, Certara, BigBear.ai, iFLYHealth, Extreme Vision, Appier Group, Rackspace and PCITECH.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $260M | ($10M) | 3.8x | 3.1x | (98.6x) | 48.5x | |||
| $265M | $79M | 4.3x | 3.6x | 14.5x | 9.1x | |||
| $4B | $185M | 0.2x | 0.2x | 4.8x | 4.9x | |||
| $419M | $103M | 3.4x | 3.6x | 13.9x | 12.0x | |||
| $128M | ($295M) | 8.3x | 7.6x | (3.6x) | (27.8x) | |||
| $136M | ($7M) | 7.7x | 6.2x | (150.8x) | (144172.5x) | |||
| $44M | ($6M) | 22.8x | 11.6x | (163.7x) | - | |||
| $281M | $44M | 3.4x | 2.9x | 21.6x | 15.7x | |||
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Common questions about iCarbonX
| When was iCarbonX founded? | iCarbonX was founded in 2015. |
| Where is iCarbonX headquartered? | iCarbonX is headquartered in Shenzhen, China. |
| Is iCarbonX publicly listed? | No, iCarbonX is a private, VC-backed company. |
| What is iCarbonX's valuation? | iCarbonX was last valued at $1.2B in its Series A in July 2016. |
| How much funding has iCarbonX raised? | iCarbonX has raised $200M across 2 funding rounds. |
| What was iCarbonX's last funding round? | iCarbonX's last funding round was a $45M Series A in July 2016, led by China Bridge Capital. |
| Who are iCarbonX's investors? | iCarbonX's investors include ProCapital, Share Capital, Tencent, China Bridge Capital and VCANBIO. |
| Which companies are comparable to iCarbonX? | Companies comparable to iCarbonX include Tempus AI, XtalPi, Yidu Tech, Ada, Glow and Motive. |
| How many companies has iCarbonX acquired? | iCarbonX has acquired 2 companies, including PatientsLikeMe and Imagu Vision Technologies. |
| What was the largest acquisition by iCarbonX? | The $100M acquisition of PatientsLikeMe in January 2017 is the largest acquisition iCarbonX has made to date. |
| How many companies has iCarbonX invested in? | iCarbonX has invested in 6 companies, including Reach Media, SomaLogic, HealthLoop, PatientsLikeMe, AOBiome and nongfadai.com. |
| What was iCarbonX's last investment? | In June 2018, iCarbonX invested in Reach Media's $15M Series B alongside Kingkey Group, Jeneration Capital and Winner Technology. |
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