Basebit

About Basebit

Founded in 2016, BaseBit Technologies operates at the intersection of Big Data, artificial intelligence, and data security, with its headquarters in Shanghai and a significant presence in Hong Kong. The firm was established by a team that includes co-founder and Group President Zhen Luo, with members hailing from prominent computer science programs at institutions like Stanford and Princeton. The company has secured substantial financial backing, raising approximately $45 million to $46.3 million in funding to fuel its expansion and technological development.

BaseBit's core business revolves around its privacy computing platform, designed to address the critical challenge of sharing and analyzing sensitive data without compromising security or privacy. The company's business model is centered on providing this full-stack technology platform to clients, enabling them to derive valuable insights from collaborative data analysis. It serves a diverse client base across sectors that handle sensitive information, including finance, healthcare, government, and smart city initiatives. The firm aims to create an ecosystem, which it terms the 'Internet of Data and Computation (IoDC)', connecting data owners, users, and service providers in a secure environment.

The company’s key offering is the XDP Data Platform, which utilizes a suite of privacy-enhancing technologies. These include secure multi-party computation (MPC), which allows for analysis across multiple datasets without any single party viewing the complete data; federated learning, for training AI models on decentralized data; and running computations within a secure sandbox environment. This technological approach ensures that raw data remains in its original location and is not directly exposed, a method described as "data can be used but not visible". For its contributions, BaseBit has been noted by Gartner as a representative supplier in federated machine learning and multi-party secure computation. A notable application of its technology is the Biomedical Informatics Platform built for Hong Kong Science & Technology Park (HKSTP), which facilitates secure research collaboration on genomics and clinical data.