HONG KONG, Aug. 6, 2021 /PRNewswire/ — BaseBit.ai announced the completion of the Series B+ round of financing, with a scale equivalent to over 350 million HKD. BaseBit.ai declined to disclose the new investors and valuation for this round. Drift Cloud Capital is the Company’s exclusive financial advisor for this financing.
Founded in 2016, BaseBit.ai is a thriving company focused on privacy computing technology and is committed to providing services for medical, pharmaceutical, government, finance, insurance, marketing tech and other industries. Also, is the forerunner of "Internet of data and computing (IODC)", BaseBit.ai has also established its own privacy computing platform "BaseBit.ai XDP". The Company has offices in Hong Kong, Shanghai, Beijing, Shenzhen, Xiamen, Yichang, Chengdu, and multiple other cities.
This round of financing will be used for the research and development on privacy computing technologies, the radiation industry of the expansion platform and the expansion of application scenarios, so as to further build the internet of data and computing, the ecological network of data and artificial intelligence.
Zhen Luo, CEO of BaseBit.ai, spoke on the financing: "We are very grateful for the support from our investors and the trust of our customers and partners. It is your recognition and support in this field that has helped to promote the rapid development of the industry. In the present day and age, privacy computing is a growing field and still faces many challenges, including the establishment of standards, the promulgations of national policies and regulations, which requires attracting more talents to join this field, the investments of capital and the efforts of friends. Only through this way, we can create a bright future for the industry together."
Andy A. Liu, President of Basebit.ai added, "We have seen more and more interest in Privacy Computing solutions across all industries including Healthcare, Finance, Insurance, Telecom and more. We look forward to expanding our technologies and solutions to our clients."
Looking back on the year 2020, which is called "The Inaugural Year of Privacy Computing" in China, BaseBit.ai has taken the lead in obtaining excellent practical experience in privacy computing in different sectors. BaseBit.ai has deployed several city-level privacy computing application use cases.
BaseBit.ai has not only realized the potential of opening city-level big data applications through privacy computing, but also put into practice the fields of intelligent hierarchical diagnosis and treatment, clinical scientific research, multi-point trigger monitoring and intelligent early warning of infectious diseases, regional digital industrialization and digital investment promotion benefiting people’s livelihood through the city-wide big data application open platform. These achievements have won several corresponding awards and commendations.
BaseBit.ai and Intel also jointly released a multiparty and multimodal privacy-preserving platform for Biomedical Research, so as to open up the linkage from data ingestion, data cleansing to data extraction, in-depth mining, to authorized sharing, and help unleash the value of data in the fields of bioinformatics research through privacy computing. In addition to further developing in the healthcare industry, BaseBit.ai is also actively expanding data value unleashing in other industries.
BaseBit.ai has been developing their privacy computing technology for many years. In 2020, former Chief Researcher of MSRA, Global Partner Dr. Lin Tao Zhang joined BaseBit.ai as Chief Scientist and has devoted himself to major scientific research activities and project construction for privacy computing and AI. He is leading the scientific advancements for the Company in data security, data privacy protection, AI and big data application. BaseBit.ai has also established an academician level Technology Advisory Board. The founding members of the committee include Academician Kai Li, Academician XiaoYun Wang and Professor Dawn Song. The committee brings together world-renown computer experts, cryptography experts and computing security experts, aiming to achieve technological innovation by formulating technical strategies, lead enterprises to practice better product service standards and integrate technical capabilities. BaseBit.ai aims to achieve the optimal allocation of resources, technological innovation and development, and establish authority in the global industry. In addition, the Company is also actively recruiting talents from leading AI enterprises as well as industries experts across all industries.
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