Digital health firm Babylon secured a sustainability-linked investment of up to $200 million from Albacore Capital Group, Mobi Health News reports.
Together with already committed PIPE capital of $230 million from institutional and strategic investors, Babylon will now have access to around $775 million of capital before fees.
In June Babylon announced plans to go public through a $4.2 billion merger with special purpose acquisition company Alkuri Global Acquisition. The deal would provide up to $575 million in gross proceeds to Babylon, including a $230 million private placement from investors such as AMF Pensionsförsäkring and Palantir Technologies.
If approved, Babylon Holdings Limited will list on the NYSE under BBLN.
Babylon provides integrated, personalised healthcare through its digital-first platform combined with virtual clinical appointments. Read more.
