The Lundbeck and Upsher-Smith-backed drug development technology provider reportedly raised the funding at half the $2bn valuation of its last round in 2018.
Singaporean state-owned investment firm Temasek provided $90m in funding for BenevolentAI, a UK-based medical development software provider that counts pharmaceutical producers Lundbeck and Upsher-Smith Laboratories as investors, on Tuesday.
The confirmation of the round followed a report by The Sunday Times last week stating that Temasek was set to invest in the company at a $1bn valuation, half that of its last round in April 2018. Raine Advisors was financial adviser to BenevolentAI on the deal.
BenevolentAI has built…
