Techmeme: China Unicom and China Telecom, the two smaller mobile carriers among China's big three operators, are teaming up to build 5G networks across 15 Chinese cities (Cyrus Lee/ZDNet)

Top News

Analysis: ~51% of capital invested into US VC-funded companies exiting over the last decade lost money, while less than 4% generated a 10x or greater return — In fact, we are highly skewed. — Most of us know intuitively that venture investing is a hits driven business.

More: AVC. Tweets: @skupor and @trengriffin

Andy Greenberg / Wired:

Researchers: execution errors prevented the Crash Override malware, which took down the Ukrainian power grid for an hour in 2016, from causing lasting damage — A fresh look at the 2016 blackout in Ukraine suggests that the cyberattack behind it was intended to cause far more damage.

More: Dragos and Neowin

Tweets: @acm_president, @a_greenberg, and @selenalarson

Srividya Kalyanaraman / AmericanInno:

CIMCON Lighting, whose smart city platform simplifies the deployment of sensors, cameras, and other devices, such as Wi-Fi access points, raises $33M Series C — Burlington-based smart city solutions maker CIMCON raised $33 million in a Series C round led by Digital Alpha.

More: PR Newswire, Smart Cities World, and Biometric Update

Jeff Abramowitz / Wired:

Launched 20 years ago, Wi-Fi nearly lost out to the rival HomeRF standard, which was being promoted by the group of Compaq, HP, IBM, Intel, and Microsoft — Opinion: Launched 20 years ago this week, Wi-Fi nearly hit a dead spot. — We all love Wi-Fi, except when we can't connect.

Tweets: @wired, @wired, and @oliakanevskaia

Renee Dudley / ProPublica:

Ransomware hackers are targeting managed service providers, causing chaos for the city governments, medical clinics, and smaller businesses who use them for IT — On July 3, employees at Arbor Dental in Longview, Washington, noticed glitches in their computers and couldn't view X-rays.

Tweets: @propublica, @sesmith, @propublicail, @propublica, @guptamnka, @propublica, and @danlgolden

Nikhilesh De / CoinDesk:

Winklevoss' crypto exchange Gemini launches Gemini Custody, a custody service targeting financial institutions, with support for 18 cryptocurrencies — The Gemini exchange is launching an institutional-grade crypto custody solution, according to an announcement Tuesday.

More: PR Newswire

Cyrus Lee / ZDNet:

China Unicom and China Telecom, the two smaller mobile carriers among China's big three operators, are teaming up to build 5G networks across 15 Chinese cities — China Unicom has struck a deal with its rival China Telecom to build their 5G networks together to cut costs.

Jake Bright / TechCrunch:

DHL expands its DHL Africa eShop to 13 additional markets, upping the presence of the global shipping company's e-commerce platform to 34 African countries — DHL has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company's e-commerce platform to 34 African countries.

FinSMEs:

Sourced Group, which helps enterprises in regulated industries migrate their IT infrastructure to the cloud, raises CAD$20M — Sourced Group, a Canadian-owned IT consultancy specializing in large-scale cloud transformations for regulated industries, closed a CAD $20m financing.

More: PR Newswire and ARN

Margie Manning / St Pete Catalyst:

ComplianceQuest, which develops cloud-based quality management software for life sciences and manufacturing sectors, raises $36M Series A — ComplianceQuest, a Tampa company with software for life science firms and manufacturers, raised a $36 million Series A round led by Insight Partners.

More: PR Newswire, PitchBook, Tampa Bay Business Journal, and FinSMEs

Brooks Barnes / New York Times:

SEC filing: Walt Disney Company CEO Bob Iger has resigned from Apple's board — LOS ANGELES — Robert A. Iger, Disney's chief executive and chairman, has resigned from the board of Apple, whose growing Hollywood operation would have made it harder for him to fully engage as one of its directors.

Lucas Matney / TechCrunch:

Caper, which is developing smart grocery carts that use AI and various sensors to let shoppers quickly scan items and checkout, raises $10M Series A — Caper wants to deliver a major update to the self checkout aisle without keeping its dreaded catchphrases, i.e. “Unknown item in the bagging area,” “Please place the item in the bag.”

More: PR Newswire

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