Verily, the Alphabet unit that experimented with diabetes-detecting contact lenses and launched Covid-19 testing programs, said it raised $1 billion in new investments led by its parent company, padding its war chest as the health-tech market heats up, Fortune reports.
The capital infusion will be used to support the company’s efforts in data platforms, research and technology that aims to make health care more individualized, Verily said. The company will also consider further investment in strategic partnerships and potential acquisitions. Verily said the new roles are part of succession planning as the company becomes more operationally and commercially focused. Read more.
