Cybersecurity funding rises this year, along with fears
Whether it’s talk of Russian cyber-espionage and email security at Sunday’s presidential debates or concerns about financial fallout from Yahoo’s massive breach, cybersecurity continues to draw headlines. Cybersecurity startups are drawing plenty of attention too lately, as well as investor capital. In the third quarter, more than 120 security and privacy-focused companies raised a combined $1.22 billion in venture and seed funding, according to Crunchbase Pro data. That’s up from $976 million in the same period last year but down a bit from $1.35 billion raised in Q2 of this year.
Samsung halts Galaxy Note 7 production
Samsung has temporarily halted production of the Galaxy Note 7 amid reports that a number of the devices had caught fire. The decision comes just five weeks after Samsung said it would recall 2.5 million Galaxy Note 7 phones after reports of battery fires. The latest move follows announcements by AT&T and T-Mobile that the carriers will halt sales of the phone.
Iran’s Snapp raises $22M for ride hailing
Ride hailing is making inroads in Iran. The Iran Internet Group has secured a €20 million ($22 million) Series A round for its ride-sharing application, Snapp, according to a TechCrunch report. The South African mobile phone company MTN led the round and is the sole investor.
Everspin shares flat after IPO
Shares of Everspin Technologies, a provider of MRAM memory technology, were relatively flat Monday, one trading day after the company carried out a $40 million initial public offering. Chandler, Ariz.-based Everspin previously raised about $80 million from investors including New Venture Partners, Sigma Partners and Lux Ventures.
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