Daily Crunch: Lookout sells consumer security segment for $223M to become ‘pure-play enterprise company’Reading Time: 3 minutes
Hi, folks! It’s Wednesday, and we’re running around like crazy, so let’s get to it! Wooooo!
- Can you see it?: Enterprise security company Lookout is selling its consumer cybersecurity business to F-Secure in a $223 million deal that Paul writes will ‘now evolve [Lookout] into a pure-play enterprise company’ that will focus on mobile endpoint security and cloud security.
- Hello?: Christmas comes early for iPhone and Windows users — iMessage finally comes to Windows 11 with the global rollout of Phone Link for iOS, reports Sarah.
- You’ll definitely notice this car go by: China’s MG Motor debuted what looks like a green highlighter on wheels in India. But seriously, it is a cute compact hatchback electric vehicle meant to navigate the country’s tight mobility needs. Jagmeet has more.
Startups and VC
Greycroft, the self-styled ‘seed-to-growth’ venture capital firm, today announced the closing of over $1 billion in capital commitments across new funds, Kyle reports. The firm’s two flagship vehicles, Greycroft Partners VII and Greycroft Growth IV, closed on more than $980 million, according to co-founder and managing partner Dana Settle — cash that’ll be put toward investing in both early- and growth-stage enterprise and consumer businesses.
In light of the micromobility industry’s growing popularity, the Japanese government has been proactive in loosening e-scooter regulations to further stimulate this sector, Kate reports. Starting this July, amendments to the country’s Road Traffic Act will permit e-scooter users to ride without driver licenses or helmets, as long as they maintain a maximum speed of 20 kilometers per hour. Luup has now amassed a total of $68 million in equity, debt and asset financing to date, at what sources said valued the firm at more than $100 million.
Let’s take a look at the best of the rest:
- Say again?: U.K.’s TympaHealth sounds out $23 million to expand its hearing diagnostics startup, Ingrid reports.
- To da moon: Rocket engine startup Ursa Major quietly closed $100 million in new funding, reports Aria.
- All in this together: Harri reports how big-time VCs link arms for climate coalition.
- Wheeeee: Bobsled raises $17 million Series A to make cross-cloud data sharing easier, Frederic reports.
- Who are ya?: Smile Identity expands African footprint with acquisition of Appruve to strengthen ID verification services, Tage reports.
- Moar Vietnamese EV powder: VinFast’s EV ambitions just got a $2.5 billion boost, reports Kirsten.
Ask Sophie: My STEM OPT expires in 30 days, what are my options?
My STEM OPT expires in a month, and my company did not register me in this year’s H-1B lottery.
I’m not sure what options I have now. Help!
— Sleepless in Silicon Valley
Three more from the TC+ team:
- We got this: Workers are wary — but also optimistic — about AI, writes Kyle.
- Let’s lean on the accelerator: Ron reminds you that you don’t have to do it all by yourself: Incubators and accelerators help build lifelong relationships.
- A ghost chain: Jacquelyn wonders what happens to your crypto when you die.
Big Tech Inc.
There must be a large number of cat fans among our readership who also need help finding their cats around the house, because this story really went viral today. Tile launches a new cat tracking tag with three-year battery life, Ivan reports. Or maybe you are just impressed by a long battery life. No judgment.
Speaking of fans, there must also be a lot of ‘Black Mirror’ fans excited for the new sixth season that will premiere in June. For those of you who have not seen this show yet, Lauren reports that ‘each episode of the satirical anthology series comments on society in some shape or form, such as the issues centered around webcam hackers, identity theft, weird robotic dogs and the toxicity of social media.’
And we have five more for you:
- You can’t eat just one: Bosch will acquire TSI Semiconductors for $1.5 billion to boost its U.S. chip production, reports Rebecca.
- Blocked: The United Kingdom’s competition authority says Microsoft’s planned Activision bid would ‘substantially weaken competition.’ Paul has more.
- Get out your digital wallet: China’s central bank digital currency use on WeChat’s platform has been expanded, writes Rita.
- Guess who’s back? Back again: Brian delights us with his account of getting his hands on an early preview of The Legend of Zelda: Tears of the Kingdom.
- Are you still there?: Snap reveals that its bot won’t notice instantly when you’ve stopped sharing your location, Ivan reports.
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