More swoops for Israeli tech start-ups

APPETITE for big-ticket buyouts of Israeli companies continues into 2019, with US cybersecurity firm Symantec announcing the purchase of Luminate Security, its fourth such acquisition in Israel. Since it was founded in 2017, Luminate has raised £11 million over two investment rounds and employs 40 people in Tel Aviv and Palo Alto.

Rapyd, a start-up developing a global online network for payment transfers without credit cards, has completed a second investment round with interest from US venture capitalists General Catalyst as well as San Francisco fintech company Stripe. Rapyd, with an Israeli staff of 65 people, has raised £46 million since its was founded in four years ago.