AI startup company raises $550M

An AI health services startup company based in the U.K has raised a whopping $550 million in a recent series C funding round. The company, Babylon Health, developed a chatbot used by the National Health Service in the U.K. It is now valued at more than $2 billion.

TechCrunch was first to report on the funding, which is the latest example of the influx of investor money coming into the AI in healthcare space. The amount set a new record.

“This investment will allow us to [maximize] the number of lives we touch across the world. We have a long way to go and a lot still to deliver,” Babylon CEO and Founder Ali Parsa, PhD, said in a statement. “We are grateful to our investors, our partners and 1,500 brilliant Babylonians for allowing us to forge ahead with our mission.”

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