The co-investment by the venture arms of two tech companies serves as a point of validation for Israel's booming digital defence sector. Furthermore, Microsoft has been particularly fond of the nation's cyber talent, snapping up multiple companies founded there in recent years.
Currently, Team8 and its spinoff companies have raised a total of USD 92 mln, the company said for Fortune. In 2016, the parent company last raised USD 23 mln from investors such as AT&T, Accenture, and Nokia.
Nadav Zafrir, Team8's CEO and cofounder, told Fortune that his company opted for its latest investors based on their individual areas of expertise. "Microsoft has software and cloud. Qualcomm has chips and hardware. And Citi has the financial perspective," he said on a call, declining to reveal the sum invested.
Team8, which operates as a startup foundry, has so far spawned two separate companies. The main company's goal is to create five standalone companies by 2018, Zafrir continued.
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