Verily, the life sciences arm of Alphabet, announced today an $800 million investment from Temasek in exchange for a minority stake in the company. Temasek, an investment company based in Singapore, will also nominate an operating partner to Verily’s board and take on an advisory role.
A Verily spokesperson told Fast Company that the investment will help the company bring in new users and corporate partners in Asia. “Temasek has the ties and expertise in health care and life sciences specifically,” they said. “That’s what was so compelling for us.” Thus far, Verily isn’t doing much work in Asia aside from a relationship with a distributor in Japan to sell its Liftware products (self-stabilizing devices for people with Parkinson’s Disease and other movement disorders). CF