“The digital guide for life”

Founded: 2015, Shenzhen, China

Category: Artificial Intelligence

Primary office: Shenzhen, China

Core technical team: Shenzhen, China

Status: Private

Employees:101-250

Amount raised:USD$200 million (2 rounds – July 2016)

OVERVIEW

  • Core strategy is artificial intelligence applied to tens of millions of health data points leading, initially, for precision skincare, precision nutrition, precision health, and precision medicine
  • Offers are SARS-CoV-2 NP Ab ELISA kit antibody detection; digital health management platform
  • Distinct competences in Artificial intelligence and ecosystem development
  • Competences arise from founders’ experience in genomics technology, mobile health, medical service, biological data analysis, AI and data mining.
  • iCarbonX is known for experience in artificial intelligence, genomics, health care

PERFORMANCE METRICS

  • Valuation: US$1 billion (2016)
  • Revenue: US$4.8 million est. (2019)

ACHIEVEMENTS

  • CEO Jun Wang listed in Top 100 AI leaders in drug discovery and healthcare report (Deep Knowledge Ventures, 2019)
  • Wang and another executive named to highly cited researchers (2017)
  • Wang named to 100 most creative people of 2017 list (Fast Company)
  • Fortune lists iCarbonX as one of the 50 companies leading the AI revolution (2017)
  • Meum™, the digital health management platform built by iCarbonX and its Digital Life ecosystem partners introduced to public (2017)

Sells

  • SARS-CoV-2 NP Ab ELISA kit – assay kit to qualitatively detect antibodies specifically against SARS-CoV-2 virus proteins in human blood, in the format of enzyme-linked immunosorbent assay (ELISA) that can be applied plate reader systems in standard hospitals

Channels

  • Meum™, the digital health management platform built by iCarbonX and its Digital Life ecosystem partners introduced to public (2017) – no longer mentioned on iCarbonX website (except as a milestone)
  • Website for SARS-CoV-2 NP Ab ELISA kit to healthcare providers and patients

Competencies

  • Various technologies: genomics technology, mobile health, medical services, biological data analysis, artificial intelligence and data mining.
  • Building ecosystems as per their build out of Digital Life Alliance (invested $400 million) [e.g., PatientsLikeMe has website of 1 million members sharing experiences of achieving resilience in fighting diseases; HealthTell helps patients understand how their immune system reacts to various medical, behavioral and environmental factors; SomaLogic which measures changes in the body’s proteins]

Distinct AI Features

Type

  • No specific mention of AI competencies, except that they apply the technology to health care

  AI use

  • Company has expertise across numerous domains including genomics technology, mobile health, medical services, biological data analysis, artificial intelligence and data mining.
  • The company is highly cited, so they are advancing numerous fields.
  • Planned Digital Life Alliance was set to apply artificial intelligence to interpret and study individuals’ digital life, with the intent to provide personalized products and services to guide and manage their physical life and live a healthier and better life.

AI useRate of return on customer’s investment to make AI work

Immediate:

  • Meum™, the digital health management platform, permitted customers to interact with others who are suffering from similar health challenges

Long term:

  • Use of big data and artificial intelligence to provide data driven advice on living a healthier and better life

Databases

  • Partnership with PatientsLikeMe which has 1 million members and tens of millions of data points about diseases

Quantum Computing

  • No explicit mention of quantum computing in iCarbonX collateral. Generically, quantum computing is expected to enable artificial intelligence by, for example, handling huge amounts of data, building better models and more accurate algorithms, and using multiple datasets (integrating datasets more quickly)

Resources

Assets

  • Meum™, the digital health management platform
  • Management team has expertise in genomics technology, mobile health, medical service, biological data analysis, AI and data mining.
  • Developed five platforms:
    • Data collecting and technical platform – to produce and collect data throughout a person’s entire life
    • Data analysis platform of artificial intelligence
    • Intelligent hardware – focused on collecting data and serving as an extension interface for products and services
    • Database and sample library – for storing data and samples
    • A platform for providing customized service to every customer

Processes

  • Big Data analytics based on an extensive collection, accumulation and integration of data (focusing on precision skincare, precision nutrition, precision health, and precision medicine)
  • Acquisitions and partnerships to access complementary assets (such as patient data)

Priorities

  • As a result of Series A financing, the company planned to devote itself to precision skincare, precision nutrition, precision health, and precision medicine
  • Committed to building a customer-centric platform of healthcare data and an AI engine, based on the Internet of Things, Mobile Internet and integrating leading resources from around the globe
  • Recover from forced divestiture of US holdings (e.g., PatientsLikeMe) mandated by US Committee on Foreign Investment in the United States

References

  1. Fast Company. iCarbonX https://www.fastcompany.com/company/icarbonx Accessed 29 August 2020
  2. Financial Times. Leading China health tech start-up ensnared by Cfius. https://www.ft.com/content/9c56bdf6-7c5f-11e9-81d2-f785092ab560. Accessed 29 August 2020
  3. iCarbonX news release. iCarbonX completes series A financing, Tencent as strategic lead investor, valuation close to US$1 billion. https://www.icarbonx.com/en/news/383.html. Accessed 29 August 2020
  4. IT World Canada. iCarbonX. https://www.itworldcanada.com/ai/listing/icarbonx/. Accessed 29 August 2020
  5. Mobile Health News. UnitedHealth Group acquires PatientsLikeMe. https://www.mobihealthnews.com/content/unitedhealth-group-acquires-patientslikeme. Accessed 29 August 2020
  6. Owler. iCarbonX. https://www.owler.com/company/icarbonx. Accessed 29 August 2020

Contributors

  • Dan Craigen