International law firm CMS has advised Access Industries (“Access”), a privately held U.S. based industrial group with global strategic investments, as lead investor in Ada Health’s €40m ($47m) funding round. Global Technology investor June Fund and Berlin-based Cumberland VC also joined the round, alongside existing investors.

Ada Health is one of the world’s fastest-growing medical apps and has ranked as the #1 medical app in over 130 countries. It combines artificial intelligence (AI) with the medical insights of doctors to help people around the world understand and manage their health. The new funds raised will be used to strengthen Ada’s operations, including a new office in the US, as well as expand its service offering and product development.

Access, founded by American entrepreneur and philanthropist Len Blavatnik, invests in highly promising companies to maximize long-term value by developing regional and global leaders. Its industrial focus spans four key sectors: natural resources and chemicals; media and telecommunications; real estate and hospitality; and venture capital.

The CMS team was led by London Corporate TMT Partner Paul Guite, alongside colleagues in CMS Germany including Klaus Jaeger and Marcus Wuntke.

Paul Guite comments, “We are delighted to have supported Access on its latest strategic investment. Ada is one of the most exciting companies in health and AI, and is setting a new standard for health management. Access has a long history of investing in transformative companies, and we are sure this will be another rewarding partnership.”