American software giant Palantir Technologies Inc. has agreed to invest in Babylon Health with plans to back more firms moving forward, according to CNBC.

  • Palantir is part of a group of investors that committed to invest $230 million in Babylon which seeks to go public through a special purpose acquisition company.
  • With the latest investment, Palantir has agreed to at least six SPAC deals in less than three months.
  • The firm partnered with General Motors to invest $100 million in U.K.-based developer Wejo, and agreed to invest $41 million in air taxi firm Lilium in March.
  • Palantir has interests in life sciences after it agreed to put in $30 million into the SPAC for Roivant Sciences. It is also investing 20 million in the SPAC for Cellularity.
  • Head of Business Development Kevin Kawasaki said the company sees an opportunity to back “really good” management teams with “big visions.”
  • Kawasaki said Palantir can later team up with the firms and offer them its operating systems platform.

PLTR: NYSE is up 1.67%; while GM: NYSE is down 0.54%.

Tags: Babylon Health GM Palantir PLTR