Qatar Investment Authority (QIA), the GCC country's sovereign wealth fund with assets valued at around $450 billion, led a $196.5 million Series G funding round in Snyk Ltd, a cybersecurity start-up.

The round also included participation from new investors Evolution Equity Partners, G Squared and Irving Investors as well as existing investors Boldstart Ventures, Sands Capital and Tiger Global. Its previous round was valued at $8.5 billion

Mansoor Ebrahim Al-Mahmoud, CEO of QIA said: “We’re confident that Snyk’s proven approach positions the company for a successful future and is aligned with QIA’s track record of supporting innovative companies shaping the future of the global economy.”

The investment will drive product innovation at Snyk, which will allow the team to enhance and expand, both organically and inorganically via strategic acquisition, its industry leading developer security platform, QIA said in a statement on Tuesday.

(Writing by Brinda Darasha; editing by Seban Scaria)