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Kinnevik announces USD50m participation in funding round of Babylon Holdings.

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NORDIC BUSINESS REPORT-August 5, 2019-Kinnevik announces USD50m participation in funding round of Babylon Holdings

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Swedish investment company Kinnevik AB (STO:KINVB) announced on Friday that it will participate with a USD50m investment in a fundraise of up to USD500m by Babylon Holdings Limited (Babylon), a digital healthcare service company combining mobile technology and artificial intelligence with medical expertise.

After the first close of the raise of USD400m, Kinnevik said it expects to own 16.2% of Babylon on a fully diluted basis.

Also, assuming a final close of the raise of USD500m, Kinnevik is expected to own 15% in Babylon on a fully diluted basis. This USD500m raise corresponds to a post-money valuation of USD2.0bn.

Kinnevik had first invested in Babylon in January 2016 and since then Babylon has created a unique end-to-end platform that has the...

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