Verily, the Alphabet company exploring health technology, has taken an $800 million investment from Temasek, an investment company based in Singapore, the companies announced Thursday.
Temasek will gain a minority stake in Verily, but the companies did not say how much in their press release. Most of the investment will come through in “the coming days” and the rest will come later in 2017, the companies said.
Verily was formerly known as Google Life Sciences before Google reorganized itself into Alphabet. It now runs as an independent company under the Alphabet umbrella.
Verily is exploring a variety of health projects like smart contact lenses that can monitor a wearer’s glucose levels and eating utensils with automatic stabilization for users with unsteady hands, such as Parkinson’s patients.
Alphabet will report its fourth-quarter earnings Thursday afternoon. The big thing to watch for: how Alphabet’s Other Bets like Verily, Nest, and Google Fiber are performing. Alphabet has made several cost-cutting moves over the last year to keep losses from its Other Bets in check. Alphabet reported $840 million in operating losses for Other Bets in the third quarter of 2016.