Verily, Alphabet’s life sciences unit, raised $300 million in a new funding round. Series X Capital led the investment with participation from Alphabet.
Alphabet will no longer hold a controlling stake in the company, transitioning to a significant minority investor. Verily has converted from a limited liability company to a corporation officially named Verily Health Inc.
The company will use the capital to advance its precision health strategy. This initiative utilizes artificial intelligence to integrate healthcare data for research and clinical care.