Skip to main content

German security firm Avira has been acquired by Investcorp at a $180M valuation

Mergers and acquisitions largely grinded to a halt at the end of March, in the wake of the coronavirus pandemic spreading around the world, but today comes news of a deal out of Europe that underscores where pockets of activity are still happening. Avira, a cybersecurity company based out of Germany that provides antivirus, identity management and other tools both to consumers and as a white-label offering from a number of big tech brands, has been snapped up by Investcorp Technology Partners, the PE division of Investcorp Bank. Investcorp’s plan is to help Avira make acquisitions in a wider security consolidation play.The financial terms of the acquisition are not being disclosed in the companies’ joint announcement, but the CEO of Avira, Travis Witteveen, and ITP’s MD, Gilbert Kamieniecky, both said it gives Avira a total valuation of $180 million. The deal will involve ITP taking a majority ownership in the company, with Avira founder Tjark Auerbach retaining a “significant” stake …

Lilium raises another $240M to design, test and and run an electric aircraft taxi service

Long and short distance travel have all but stopped for many people at the moment. But looking forward to a time when that may no longer be the case, a company designing flying taxis is today announcing a large round of funding to help continue developing its product.

Lilium, a Munich-based startup that is designing and building vertical take-off and landing (VTOL) aircraft with speeds of up to 100 km/h that it plans eventually to run in its own taxi fleet, has closed a funding round of “over” $240 million — money that it plans to use to keep developing its aircraft, and to start building manufacturing facilities to produce more of them, for an expected launch date of 2025.

“We’re working to deliver a brand new form of emissions-free transport,” said a spokesperson. “Doing something like that takes significant time and investment, but the outcome is a valuable business and a chance to have a genuinely positive impact on the way we travel.”

This latest investment was an inside round (involving existing, not new, investors) and it closed last month. It was led by Tencent, with participation from other previous backers that included Atomico, Freigeist and LGT. The valuation is not being disclosed, but the company confirms that it is significantly higher than it was in its Series B in 2017. (For some more context, PitchBook estimates that last year the company was valued at around $470 million.)

The news today caps off some challenging recent months for the company, even before the Coronavirus took hold of the world and cast a dark shadow on any kind of travel.

Last October, we reported that several sources said that Lilium, which employs 400 people, was looking to raise between $400 million and $500 million, a round that it had been working on for some months. In the end, the lower amount the company is putting out today is $160 million less than the lower end of that range, but from what we’ve been told, this is not far from what the company was actually aiming to raise. Still, that combined with the fact that there are no new investors in the raise might imply some challenges there.

(It is, nevertheless, one of the biggest fundraises to date for a startup in the “flying vehicle” space. (Volocopter, which is also designing a new kind of flying taxi-style vehicle and service, closed a $94 million round in February.) Lilium has now raised more than $340 million to date.)

“This additional funding underscores the deep confidence our investors have in both our physical product and our business case. We’re very pleased to be able to complete an internal round with them, having benefited greatly from their support and guidance over the past few years,” said Christopher Delbrück, Lilium’s CFO, in a statement. “The new funds will enable us to take big strides towards our shared goal of delivering regional air mobility as early as 2025.”

But raising money has not been the only challenge. At the beginning of this month, the older of Lilium’s two prototypes burst into flames while some maintenance was being carried out. The model was close to being retired, but testing on the second, newer model has nonetheless been paused until the company can determine the cause of the accident with the first aircraft.

“Our second demonstrator aircraft was fortunately undamaged in the fire and will begin flight testing once we’ve understood the cause of the fire in the first aircraft,” a spokesperson said.

The market for aircraft-based taxi services — be they electric, autonomous, or both — is still very nascent. There are no approved aircraft yet on the market (indeed, the regulations for what these would even look like haven’t even been created), and, as a result, there are no services yet in place, either.

But the opportunity of building fast services that could mitigate current traffic congestion, while also reducing carbon emissions, is potentially massive, and so we are seeing a lot of activity and investment from many corners as companies hope their takes on solving that challenge are the ones to hit the mark.

Lilium’s would-be rivals include not just fellow German startup Volocopter, but also Kitty HawkeHang, Joby and Uber, in addition to Blade and Skyryse, air taxi services of sorts that offer more conventional helicopters and other vessels in limited launches for those willing to spend the money.

It’s not clear how much of this will fare in the months and years ahead, in particular at a tricky time for travel and the wider economy. But for now, Lilium’s work so far — it was founded in 2015 by Daniel Wiegand (CEO), Sebastian Born, Matthias Meiner and Patrick Nathen — has been promising enough for its investors to continue backing it for the long haul.

“At Tencent we’re committed to supporting technologies that we believe have the potential to tackle the greatest challenges facing our world,” said David Wallerstein, Chief eXploration Officer at Tencent, in a statement. “Over the last few years we’ve had the opportunity to see the professionalism and dynamism with which Lilium are approaching their mission and we’re honored to be supporting them as they take the next steps on their journey.”



Source: https://tcrn.ch/3boHWZH
1 / 4
2 / 4
3 / 4
4 / 4

Popular posts from this blog

Fortnite Battle Royale Apk Download And Install (iOS And Android)

Fortnite Battle Royale Game has officially announced for both iOS and Android devices. But you’re obviously wondering how you can play Fortnite Battle Royale game on your iPhone, iPad. This fortnite apk first was released for Apple’s devices. But later it has been released for all over the devices except Pc/Desktop And Laptops.

Although, Fortnite apk game is only accessible by user invitation or you need the fortnite invite code. So if you really want to play the fortnite apk, so you must go to their official website and create an account as a beta tester for the ios version of the fortnite mobile app.

You can also use your mobile to sign up an account. But you must have at least an iPhone 6 or higher. Even, you can invite your friends by sending them an invitation code.

Related: Fortnite - Deluxe Founder's Pack - Xbox One [Digital Code]- ITS GREAT BECAUSE IT GIVES YOU A CODE THAT YOU CAN USE TO DO MORE STUFF LIKE SAVE THE WORLD AND OTHER STUFF.

How To Download Fortnite Apk?

How to watch the Felder vs. Hooker UFC Fight Night 168 live stream online

This Saturday, February 22, Dan Hooker and Paul Felder will step into the octagon together in the lightweight bout of the evening. Weighing in at 155 pounds, the two have similar records to date, though Hooker is a bit taller with a longer reach which could prove favorable during the fight.

Paul Felder has a 16-4-0 record to date, while Dan Hooker sits at 19-8-0. The two have similar KO/TKO stats, though Felder is used to a longer fight, with his average time sitting just over three minutes more than Hooker's. The fight takes place in Auckland, New Zealand this time around, and streams exclusively on ESPN+ in the U.S.



You'll want to make sure you check out all the details below so that you are prepared to tune in when the fight begins instead of scrambling to set your accounts up.
UFC Fight Night 168: When & whereUFC Fight Night 168 takes place on Saturday, February 22. The event will be broadcasted live from the Spark Arean in Auckland, New Zealand. Prelims will start at 4…

Google collects face data now. Here's what it means and how to opt out

Google's new Face Match technology isn't everywhere yet, but it's always looking. Find out what's happening with your face data and what you can do stop it.

Google's latest smart display brings with it a controversial new feature that's always watching. Face Match, introduced on the Google Nest Hub Max, uses the smart display's front-facing camera as a security feature and a way to participate in video calls. It also shows you your photos, texts, calendar details and so on when it recognizes your face.
This mode of facial recognition sounds simple enough at first. But the way companies like Google collect, store and process face data has become a top concern for privacy-minded consumers. Plenty of people want to know who has their personal information once it makes its way into the cloud.

Here's a look at how Google and other tech companies record, save, process and use facial recognition data collected by devices such as the Nest Hub Max, as well as s…

iPhone 11 and iPhone 11 Pro Design, Camera, Specs and Pricing

Today, Apple has unveiled a new set of phones, including the iPhone 11, the iPhone 11 Pro and the iPhone 11 Pro Max. These new devices are powered by a new chip, sport new cameras and are available in a variety of finishes and sizes.

So without any further ado, let’s get into some of the details.

How to bring Harry Potter magic to your Facebook account

Quickly, Potterheads, to Facebook!
Wanna feel old? The first Harry Potter book was released 20 years ago today. Don't let that bum you out, though. In celebration of this anniversary, Facebook has turned a few of your favorite words into spells you and your friends can activate on both the app and the website.

Here's how it works!

Casting a Harry Potter spell on Facebook


Download and install WhatsApp on PC (Windows 7.8) using YouWave

WhatsApp is an instant messaging application for smartphone users to use based on data provided by the network operator services. Therefore messaging via WhatsApp does not cost any office network and instead only data costs are charged to almost nothing. In simple words, WhatsApp uses the Internet to allow communication between users, compared to an SMS-based service network.

WhatsApp is the brainchild of two former employees of Yahoo that WhatsApp Inc. founded in 2009. It was founded by Brian Acton and Jan Koum, who based his company in Mountain View, California. WhatsApp is now so popular that it has 700 million active users per day, compared with 830 million users are active on Facebook. Sensing a possible threat of WhatsApp, people began to prefer Facebook, when it was based communication network, Facebook decided to acquire WhatsApp in 2014 by a whopping amount of fat acquisition of $ 19,000,000,000.

Although there have been sporadic reports about a possible release of the PC ve…

iPhone Feature Request: Copy ‘Skip Lock Screen’ feature from Google’s Pixel 4

Face Unlock on Google’s Pixel 4 is less secure than the iPhone’s Face ID, but it does have one feature I’d like to see Apple copy: Skip Lock Screen.

Copying that would be perfectly fair, as Google has recently confirmed that it will be copying at least part of Face ID’s Require Attention feature…


The Pixel 4 will copy Require AttentionLike Apple’s iPhone X, XS, and 11, Google’s new flagship Pixel 4 smartphone can unlock by recognizing your face. However, the company quickly came under fire when it was revealed that the device can be unlocked even when the owner is asleep, simply by someone else holding it up to their face.

With iPhones, there is a Requires Attention toggle. When this is on, your iPhone will only unlock if your eyes are open and you are actually looking at the screen. Google has now said that it plans to copy at least the first part of this requirement.

Google this evening confirmed to The Verge that it’s “been working on an option for users to require their eyes to be ope…