Ex-BGI CEO’s startup hits B valuation in six months

Jun Wang has moved quickly since stepping down as CEO of Chinese genomics giant BGI to set up an artificial intelligence-enabled health data mining venture, iCarbonX. The startup, which opened its doors in October, already has a valuation of $1 billion having persuaded Asia’s biggest internet firm to lead a $155 million Series A round. Wang setup iCarbonX to capitalize on the simultaneous emergence of the ability to generate massive multi-omic datasets and rise of artificial intelligence tools that are tipped to take some of the donkey work out of sifting through such resources. Setting up an organization capable of pulling off this ambitious plan will prove costly–Wang has previously said it may require $1.6 billion–but investors have so far shown a willingness to bankroll the venture. Chinese news site…

Link to Full Article: Ex-BGI CEO’s startup hits B valuation in six months

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