Digital health start-up Babylon Health is to receive an investment from Saudi Arabia’s Public Investment Fund to help drive its international expansion.
The company, whose app lets people book virtual appointments with their GPs and order prescriptions, is raising capital to expand its operations in North America and expand in the Middle East and China.
According to the Financial Times, discussions with Saudi Arabia’s sovereign wealth fund could result in it leading a new funding round that is due to be announced next week.
Babylon, which was founded six years ago by Ali Parsa (pictured), operates primarily in the UK and Rwanda but has been spending heavily on increasing its overseas presence.
Babylon Health declined to comment on the fundraising. Saudi Arabia’s Public Investment Fund did not respond to requests to comment.