Google is ready to invest in THG Ingenuity.

Alphabet company, a subsidiary of Google, has decided to invest in THG Ingenuity, a spin-off of the British e-commerce firm THG, through an instrument that can be converted into equity at a valuation of 750 million pounds (1.01 billion dollars) or higher.

According to a report by Sky News on Thursday, this investment represents a significant step for THG Ingenuity. However, Reuters has not been able to immediately confirm this information.