babylon

Edwin Coe has advised babylon, the UK digital health firm founded by Ali Parsa, on a series A funding round which raised around $25 million.

The financing was led by Swedish investment group AB Kinnevik with other participants including the founders of BXR Group, a multi-billion dollar global investment group; DeepMind, the British artificial intelligence company acquired by Google and Hoxton Ventures, the fund established to bridge European companies to Silicon Valley.

The Edwin Coe team was led by Head of Corporate & Commercial Russel Shear and Senior Associate Myri Papantoniou.

Russel Shear, commented “We are delighted to have assisted this innovative company raise funds and help it to pursue its expansion plans”.

The company’s app, available on iOS and Android devices, allows users to book a phone or video consultation with a doctor or a therapist, send photo or text messages to get answers to quick questions, track their health, and store basic health information like family health history, medication history, and allergy information. Users can order tests via the app also.

Shortly after launching the app in February 2015, the company had 5,000 users. babylon now covers about 250,000 lives with 150,000 active users. While consumers are able to get the service directly, babylon also offers it via employers.

Ali Parsa said employers like the app because it’s one extra convenience they can provide for their employees. Some of babylon’s corporate clients and partners include Citigroup, Sky, LinkedIn, Mercer, Bupa and Aviva.

babylon will use the funds from this round to further develop an artificial intelligence system that helps users navigate their symptoms and monitor medication adherence. Parsa said that babylon will release the first part of this offering in the next two to three months.

About Edwin Coe

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Founded in 1913 and based in Lincoln's Inn, Edwin Coe is a leading independent London law firm built on clarity, collaboration and trust. We specialise in dispute resolution, private capital and cross-border matters.

What began as a boutique disputes practice over 100 years ago has evolved into a firm advising private clients, entrepreneurs, family offices, UK and international businesses across the areas of corporate, private client, real estate and litigation. Throughout that evolution, one thing has remained constant – our belief that the best advice combines legal insight with human understanding.

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