Cybersecurity research lab and startup foundry Team8 has launched in Israel with $18m of funding from investors including telecommunications equipment maker Alcatel-Lucent and networking technology producer Cisco.
Alcatel-Lucent and Cisco, which invested through its Cisco Investments corporate venturing subsidiary, were joined in the series A round by investment firm Marker, venture capital firm Bessemer Venture Partners and VC fund Innovation Endeavors.
Team8 bills itself as a cybersecurity ‘think tank’ and will operate as a platform to incubate and build startups, linking technical teams with experienced entrepreneurs and supplying the capital and resources required for them to progress.
In addition to providing equity, Alcatel-Lucent will also collaborate with Team8 through its industrial research unit, Bell Labs, on a range of security challenges.
Marcus Weldon, chief technology officer at Alcatel-Lucent and president of Bell Labs, said: “As we enter the era where our lives are digitised and everything is connected via IP networks, it is critical that we increase the security of these networks and systems.
“We need to know that sensitive and private data is protected and any breach discovered and remediated before any damage is done. The Bell Labs team in Israel will be collaborating closely with Team8 to both detect and then remediate even the most sophisticated attacks, leveraging the unique expertise of Team8 and Bell Labs.”