Mubadala backs French healthtech company through €1bn venture fund – The National

Mubadala backs French healthtech company through €1bn venture fund – The National

The $18m invested in Owkin is part of a $70m Series A funding round

















From left - Nicolas Dufourcq, chief executive of Bpifrance; Bruno Le Maire, France's minister of economy and finance; Khaldoon Al Mubarak, Mubadala's group chief executive and Waleed Al Muhairi, chief executive of Mubadala's Alternative Investments and Infrastructure Platform at the February announcement of Mubadala's backing of the €1bn Large Venture Fund. Courtesy Mubadala

















July 1, 2020



July 1, 2020













Mubadala Investment Company made an investment in a French healthcare technology company through the €1 billion (Dh4.12bn) Large Venture Fund set up with France's national investment bank, Bpifrance.



An $18 million (Dh66.1m) investment was made in Owkin, a company that applies federated learning techniques to medical research, according to a company statement. Federated learning is a form of decentralised machine learning.



The amount invested is part of a larger $70m Series A funding round led by the company, with other investors including Cathay Innovation, MACSF (a French pension fund for doctors), GV, F-Prime Capital, Eight Roads, Frst, and NJF Capital.





"Owkin is creating an efficient, global network to connect the medical research ecosystem, enabling pharmaceutical companies to