The Briefing: UBQ Materials Lands $170M, Noname Security Hits Unicorn Valuation, And More

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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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UBQ Materials lands $170M to replace plastic

UBQ Materials, developer of a thermoplastic material that can be used in packaging, announced a $170 million funding round led by TPG Rise, TPG’s global impact investing platform.

Tel Aviv-headquartered UBQ says its technology can be used to turn landfill-destined municipal solid waste into a sustainable and recyclable plastic substitute.

— Joanna Glasner

Noname Security hits unicorn valuation

Palo Alto, California-based API security provider Noname Security closed a $135 million Series C at a $1 billion valuation—its third round in about 12 months since emerging from stealth.

In June, the company closed a $60 million Series B, about six months after closing a $25 million Series A late last year.

The new round was led by Georgian and Lightspeed, with participation from existing investors Insight Partners Next47, ForgePoint, Cyberstarts and The Syndicate Group.

Founded early last year, the company has now raised $220 million to date.

Securing APIs—or application programming interfaces—has become popular with investors this year as money has poured into the expanding subsector of cybersecurity.

APIs are vital in allowing apps to use functions like communication and location services. Without secure APIs to protect the data that flows between applications, bad actors can corrupt the process.

— Chris Metinko

Funding rounds

ezCater picks up $100M:Boston-based ezCater, a corporate catering service, announced it raised $100 million in a Series D-2 round led by SoftBank Vision Fund 2.

The financing brings ezCater’s total funding to $425 million and raises the company’s post-money valuation to $1.6 billion.

The company said it experienced an 85 percent drop in revenue at the beginning of the COVID-19 pandemic. It has since rebounded, with ezCater saying it is now exceeding its pre-pandemic revenue run rate.

— Joanna Glasner

Uni raises $70M for buy now, pay later cards: Bangalore-based Uni, a provider of credit cards with which users have the option of paying for goods over three months, raised $70 million in a Series A funding round led by General Catalyst.

— Joanna Glasner

Public offerings

Samsara prices IPO at top of range: San Francisco-headquartered Samsara, a developer of fleet management and other Internet of Things applications for businesses, raised $805 million in its initial public offering after pricing shares at $23 each, the top of the proposed range. Shares are slated to begin trading on the New York Stock Exchange under the ticker symbol IOT.

— Joanna Glasner

Illustration: Dom Guzman

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