iLabService

Established in 2017, iLabService is a Shanghai-based company specializing in laboratory management solutions that enhance operational efficiency through digitalization and streamlined processes. iLabService is focused on providing laboratory management solutions that optimize operations through digital tools. Founded in 2017 in Shanghai, China, it has secured a total of 6 deals to date. In July 2021, the company raised RMB 100 million in Series A funding led by Matrix Partners China, with participation from existing investors Future Capital, Kaitai Capital, and TSVC.

The company is led by CEO Kenny Li. iLabService provides a comprehensive suite of laboratory management solutions aimed at optimizing laboratory operations through digitalization. Their core offerings include a data-driven laboratory operations platform that leverages industry best practices to streamline processes, enhance productivity, and ensure compliance. The platform serves over 200 customers and 10,000 users across sectors such as biopharmaceuticals, diagnostics, and life sciences, primarily within the domestic Chinese market, while also targeting international clients in the Asia-Pacific region.

iLabService generates revenue through a subscription-based model for its laboratory management platform, fostering long-term partnerships with clients, including well-known biopharmaceutical incubators. Customers enter into agreements based on laboratory size and specific services utilized, allowing access to both web and mobile application versions of the platform. In July 2021, iLabService raised over RMB 100 million in Series A funding to support its growth initiatives. The company plans to develop new products aimed at enhancing laboratory efficiency, although specific release dates have not been disclosed.

Additionally, it is looking to expand its market reach beyond China into the broader Asia-Pacific region to capture growing demand for laboratory management solutions.