Investment AB Kinnevik (publ) ("Kinnevik") today announced that it has invested USD 14m in an approximately USD 25m investment round in Babylon Holdings Limited ("babylon"), the UK based digital healthcare service provider.
The financing was led by Kinnevik and included participation and support from Hoxton Ventures and the founders of DeepMind, the British artificial intelligence company acquired by Google.
babylon is a personal health service company providing care to over 250,000 people in the UK through its mobile app. A network of certified practitioners is available 7 days a week to answer questions, consult or refer to a specialist. The app allows patients to monitor their health and keep their clinical records in one secure location. babylon has established itself as a leader in digital health by combining medical experience with user friendly digital technology.
Lorenzo Grabau, CEO of Kinnevik, commented: "babylon is our first investment in digital healthcare, a sector where technology will enable the delivery of better services at more affordable prices, both in developed and developing markets. We have been impressed by the initial success of babylon and look forward to supporting its team into building a global leader in digital healthcare over the long-term."
For further information, visit www.kinnevik.se or contact:
|Torun Litzén, Director Investor Relations||Phone +46 (0)8 562 000 83|
Mobile +46 (0)70 762 00 83
Kinnevik is an entrepreneurial investment group focused on building digital consumer businesses. We work in partnership with talented founders and managers to create, invest in and lead fast growing digital businesses both in developed and developing countries. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.