Chinese unicorn iCarbonX joins HealthLoop’s Series B

Image from iCarbonX website.

iCarbonX, a Chinese health-related data mining and analysis firm, has joined a $8.4 million Series B financing round in HealthLoop, a California-based platform for automated doctor-patient interaction, according to a company announcement on Monday.

Other investors include NextEquity, Lafayette General Hospital participating through its Health Innovation Fund, Canvas Ventures, and Summation Health Ventures.

iCarbonX plans to integrate HealthLoop’s patients-generated data to advance its data mining technology and help establish its digital life ecosystem. Meanwhile, the American company will use the Series B funding to expand its market and enlarge its business teams.

“The investment in HealthLoop is in line with our strategic planning. The big data era of life sciences has just been launched, whereas a lot of previously dismissed healthcare data has just begun to show its significance,” said Jun Wang, founder of iCarbonX. “The HealthLoop platform has done an excellent job in connecting patients and doctors, tracking patients’ recovery process and mining patients’ data. All of these are essential components of iCarbonX’s digital life ecosystem.”

Founded by Dr. John Shlain in 2009, HealthLoop helps to digitally connect patients with their doctors and care-givers. The platform is designed to keep track of patients’ illness and uses analytics engine to provide real-time analysis. It claims to facilitate over 500,000 patient interactions every month.

“When patients return from hospitals to the real world, they will be confronted with a whole series of problems that influence their post-hospital recovery in ways that are difficult to predict. But if we build a relationship with them, we can be there throughout the process to support them. And the further we can take that, the better it will be for patients’ lives and the better the outcome will be,” Dr. Shlain said. “The important thing is that the technology exists. What we’re looking for is the imagination and the right healthcare players to recognize that opportunity and embrace it.”

The Chinese firm announced in January that it had invested a total of nearly $400 million in the seven companies — SomaLogic, HealthTell, PatientsLikeMe, AOBiome, GALT, Imagu and Robustnique — to form iCarbonX’s Digital Life Alliance.

Established in October 2015, iCarbonX took only six months to achieve a $1-billion valuation and become the world’s fastest unicorn after Tencent Holdings led a RMB1-billion ($155 million) Series A round in April 2016.

Also read:

China Bridge Capital invests $45m in biotech startup iCarbonX

Tencent-backed Chinese AI platform iCarbonX acquires Israel’s Imagu Vision Technologies

China: Biotech company iCarbonX valued at $1b after Series A round

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.