BenevolentAI draws $90M from Temasek amid reports of halved valuation
Days after news leaked that BenevolentAI had secured funding at a rate that would halve its $2 billion valuation, the machine learning startup officially announced it raised $90 million from Singapore-based Temasek for a minority stake.
The news deals another blow to embattled fund manager Neil Woodford. BenevolentAI was one of two biotech AI startups, along with Oxford Nanopore, Woodford was reportedly prepping for auction to raise cash for his still frozen Equity Income Fund. Nanopore’s $1.5 billion valuation remains steady, affirmed by fellow investor IP Group.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.