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Brunei
Thursday, September 29, 2022
32.5 C
Brunei
Thursday, September 29, 2022
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    Alphabet’s Verily raises USD1B in funding round

    CNA – Alphabet Inc’s health technology arm Verily said on Friday it had raised USD1 billion in a funding round led by its parent.

    Verily said it would consider investments in strategic partnerships, business development and acquisitions with the new funding.

    Spun out of Google in 2015, Verily develops devices and software aimed at improving data collection, treatment, research and patient care.

    Verily also said its president, Stephen Gillett, will be promoted to chief executive officer, while founder Andy Conrad will become executive chairman.

    Chief Financial Officer Deepak Ahuja has decided to leave the company, it added.

    Earlier in January, Verily announced a new tie-up in its search for sustainable revenue, saying it would study skin health and explore new products with cosmetics maker L’Oreal SA.

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