Foxconn acquires Belkin International for $866 million
Belkin International, one of LA’s first true tech companies, was acquired this week by iPhone developer Foxconn for a staggering $866 million. Headquartered in Playa Vista, the company operates consumer electronic brands Phyn, Linksys and Wemo, among others. As a part of the deal, Founder and CEO Chet Pipkin will join Foxconn’s management team and will maintain leadership of Belkin International. [Belkin]
ServiceTitan raises $62 million Series C
Glendale-based software developer ServiceTitan surpassed $160 million in funding on Friday when the company closed a Series C worth $62 million. Led by Battery Ventures, the funding will allow the company — which was named to Built In LA's 50 Startups to Watch in 2018 — to add new features to its platform, invest in customer support and add partnerships with wholesalers and manufacturers. [Press Release]
Relativity Space adds $35 million to accelerate 3D rocket manufacturing
Relativity Space, an Inglewood-based startup using 3D printing and robotics to manufacture rockets, closed a $35 million Series B this week to accelerate production. Founded in 2015, the company tapped Playground Capital, Social Capital, Y Combinator Continuity and angel investor Mark Cuban to lead the round. [ARS Technica]
Endeavor acquires NY-based sports streaming service NeuLion
Beverly Hills-based sports, entertainment and fashion company Endeavor — formerly known as WME | IMG — entered into an agreement with New York-based digital video broadcasting, distribution and monetization company NeuLion for an all-cash deal reported to be worth $250 million. The acquisition is Endeavor’s second of 2018 — the company acquired Philadelphia- and Newport Beach-based creative agency 160over90 for $200 million in January — and its sixth acquisition since April 2015. [Press Release]
Spring Labs emerges from stealth with $14.8 million in funding and big hiring plans
Earlier this week, Spring Labs, a company using fintech technology using blockchain to make the flow of information more secure, exited stealth mode and announced a $14.75 million seed round of funding. Founded last year by members of Chicago-based fintech giant Avant's founding team and board, the company said it planned to use the capital to expand its blockchain platform and grow its engineering team. [Built In LA]
MobilSense acquires mobile data management startup MobilePhire, adds founders to its team
Agoura Hills-based managed mobility services provider MobilSense Technologies announced late last week that it had acquired Washington D.C.-based MobilePhire to bolster the company’s abilities to control data consumption on cellular networks. Founded in 2001, the company’s automated software is used by more than 700 corporate customers, saving them more than $250 million in mobility savings. [Press Release]
FastData.io scores $5 million
Real-time stream processing startup Fastdata.io scored $5 million in a funding co-led by Venice-based CrossCut Ventures and Pelion Venture Partners on Tuesday, helping the company accelerate its sales efforts. As a part of the deal, Ben Lambert of Pelion Venture Partners, Brian Garrett of CrossCut and retired four-star admiral William Fallon — a cybersecurity expert — will join the company’s board of directors. [Press Release]
