Crypto powerhouse Celsius acquiring Israeli startup GK8 for $115 million
The Israeli company, founded just three years ago, provides financial institutions an on-premise end-to-end platform for safekeeping and managing digital assets
Meir Orbach | 19:33 01.11.2021
Israel-American crypto company Celsius is acquiring Israeli cybersecurity company GK8 for $115 million, Calcalist has learned. GK8, which provides financial institutions an on-premise end-to-end platform for safekeeping and managing digital assets, was founded just three years ago and has raised only $10 million to date. Celsius announced last month that it raised $400 million at a $3 billion valuation and some of those funds are expected to go towards this deal. GK8, founded by Lior Lamesh and Shahar Shamai, who both worked as cybersecurity experts at the Office of the Prime Minister of Israel, came out of stealth just two years ago with the completion of a $4 million seed funding round. The round was led by Marius Nacht, co-founder of Check Point, technology venture capital firm aMoon, and Discount Capital, the investment arm of Israel Discount Bank. Venture capital firms EdenBlock and iAngels, and The Israel Innovation Authority, the government's tech investment arm, also participated in the round. One of the company's first investors is Ronen Solomon, founder and CEO of Altshare.