$450 million for Noname, two billion-dollar funding rounds and good news for crypto startups

Good news, crypto founders! Venture capital activity is picking up in the sector, recovering from the multi-year lows that investments fell to in late 2023. In other words, venture capitalists seem more optimistic about Web3 than they were not so long ago.

But that’s not the only news we had to cover on Equity this morning. Akamai is spending $450 million to buy API security company Noname, a deal that TechCrunch said was worth about $500 million. Still, $450 million is a lot of money, and the deal is worth thinking about considering Noname was valued at over $1 billion in 2021.

Speaking of M&A, Wiz is another name in the cybersecurity space that could be shopping, thanks to its recent billion-dollar fundraising round. It intends to buy both injured unicorns and smaller, hot startups to bolster its business. The company is now valued at $12 billion, which represents a lot. (Wayve has also raised over $1 billion, but is focused on the autonomous driving space rather than safety.)

We also saw Monzo take home an additional $190 million, taking its fundraising score for the full year to over $600 million. Meanwhile, TikTok is fighting a possible ban in the United States and Oyo is trying to raise new capital at a fraction of its previous value.

In conclusion, Haje brings the Pitch Deck takedown to Equity! If you haven’t read the series (start here), you’re in for a treat. We’re kicking off the new segment with a look at NOQX’s deck: what worked, what didn’t, and what’s next!

Chat Friday!