According to recent reports from EqualOcean, BaseBit.ai (翼方健数), a data and computation internet company (IoDC) based in Shanghai and founded in 2016, has announced the completion of a B++ round of financing worth hundreds of millions of yuan. The specific amount and investors of financing have not been disclosed, and Drift Cloud Capital (行云资本) served as the exclusive financial advisor.
BaseBit.ai is a technology company focused on the circulation of elements in the data-driven era. The company constructs and operates the "Internet of Data and Computation (IoDC)" using full-stack technologies such as privacy-safe computation, big data, and artificial intelligence. It promotes the generation of value by facilitating the circulation of elements while protecting data and model assets, data and model security, and personal privacy. Through the "raw data stays in the domain, data can be used but not visible" approach and multi-node resource matching and scheduling, BaseBit.ai enables the orderly circulation and value release of elements in industries such as government, healthcare, insurance, finance, and marketing, reduces barriers, and promotes the development of industry application ecology.
Currently, the company's core technology is privacy-safe computation, which protects the privacy and confidentiality implied by data and enables the sharing of data value while avoiding the loss, transfer, and loss of control of data assets. BaseBit.ai is listed as a "federated machine learning supplier" in Gartner's "Predicts 2022: Core Technologies of Artificial Intelligence" report and a "multi-party secure computation representative supplier" in the "2022 China Network Security Technology Maturity Curve" report.
EqualOcean's research reveals that the founding team of BaseBit.ai all come from top computer science programs such as Stanford University, Princeton University, and the University of Science and Technology of China. The company has hired Alibaba Group's (阿里巴巴) Technical Committee Chairman Zeng Ming and former Baidu (百度) COO Lu Qi as strategic advisors and has several academician-level scholars on its Technical Strategy Committee, making for a strong lineup.
This year, BaseBit.ai also launched a globalization plan centered on Hong Kong for expansion. After this round of financing, BaseBit.ai will use a group operation mode to better integrate multiple regional forces, replicate successful closed-loop models, and accelerate the construction of a global IoDC network based on the construction and operation of regional and industry IoDCs.
IoDC is a relatively new concept, but privacy computation technology closely related to it has already attracted attention from all sides in China and abroad. According to the "Privacy Computing White Paper (2022)" released by the China Academy of Information and Communications Technology, it is expected that the privacy computing market in China will reach hundreds of billions of yuan by 2025. Statistics show that in just four months from July to October 2021, the privacy computation track received 1 billion yuan in financing. 2021 is also considered the year of commercial landing for privacy computation.
Currently, players in the market are mainly concentrated among a group of internet giants and tech unicorn startups. In China, Ant Group (蚂蚁集团), WeBank (微众银行), and Baidu were the first to enter the field, with InsightOne (洞见科技), HuaKong TsingJiao (华控清交), and Nuowei Tech (锘崴科技) following closely behind. Among foreign players, Microsoft and IBM have collectively obtained more than 600 related patents.
At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. Click the link to apply and scan the QR code below to learn more about ESG2023.
