Verily Life Sciences LLC, a health science division of Alphabet Inc., has received USD 1 billion in a transaction that was co-led by Alphabet to fund the growth of its precision health-related companies.

A number of fundamental activities will be supported by the increased financing, which was revealed on Friday. Real-world evidence generation, healthcare data platforms, research and treatment, as well as the technology underpinning this work to enhance individual patient outcomes in healthcare, are some of these. Verily stated that it would also take into account additional investments in international business expansion, strategic collaborations, and prospective acquisitions.

According to reports, Verily has now raised USD 3.5 billion in total, which includes the fresh fundraising as well as rounds of USD 700 million in December 2020 and USD 1 billion in 2019. External investors include Temasek Holdings, Silver Lake and Ontario Teachers’ Pension Plan.

Read More: Alphabet’s health science company Verily raises $1B to support business expansion