Alphabet’s failed smart contact lens company, Verily, has been handed $1billion (£791m) to grow its business.
The funding round was led by Silver Lake, an investment company which has backed Alibaba Group, Dell, Tesla, and gene company Ancestry.
Silver Lake managing director Egon Durban will sit on Verily’s board along with the chief financial officer of Alphabet, Ruth Porat. Silver Lake’s stake was not disclosed.
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