Walmart, Airbus and Softbank have teamed up with Team8 to form the new fund that will be managing 85 Million dollars. The fund will be used for investment and forming companies the field of cybersecurity (which is the classic fields of Team8) alongside AI and information sharing.
Team8 is a research platform which forms technology companies in the cyber field. It was founded in 2014 by Nadav Zafrir, formerly the commander of the prestigious intelligence unit in the Israeli Defense Forces, 8200. Mr. Zafrir headed a delegation of cybersecurity companies on a Texas roadshow in 2018, led by the Israeli Energy and Economic Mission.
5 companies have been formed under the auspice of Team8 since its foundation, yet this new fund shows a change in the focus of the team. From cyber to wider technologies relevant to the world of retail, aviation, insurance and IT.
Walmart has already been a customer of security products that Team8 has produced for the last two years and might now invest more in the challenges of data and food security.