Babylon Health, the U.K. startup that offers a digital healthcare app using a mixture of artificial intelligence (AI) and video and text consultations with doctors and specialists, has raised $60 million in new funding.
The company says it plans to use the new capital to continue building out its AI capabilities, including offering diagnosis by AI (rather than a more simple triage functionality), which is pegged to roll out later this year.
Investors in the round aren’t being disclosed, though the FT cites Sawiris, an Egyptian billionaire business family, as a new backer. The company’s previous $25 million round was led by Investment AB Kinnevik, the Swedish listed investment fund. The newspaper also says the new funding gives Babylon a valuation of “more than $200m,” while my sources say this in the right “quarter of a billion” ballpark.
(Update: I’m told the new funding round included participation from NNS holdings, Vostok New Ventures, and existing backers Kinnevik and Hoxton Ventures).
Babylon’s previous investors also include Richard Reed, Adam Balon and Jon Wright (co-founders of Innocent Drinks), and, perhaps most notably, Demis Hassabis and Mustafa Suleyman, founders of Deepmind, the AI group bought by Google for $500m, who are also advising the digital health startup.
Earlier this year, Babylon starting working with a number of health authorities…