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πŸ’° $580M+ VC Funding Day. Aviation Index Ends Flat.

Impact Capital Markets #68 looks at our Aviation stock index, major impact deals, M&A, and upcoming economic releases.

Privet ❄️

πŸ“‰ Today's Global Economic Update: Japan's Consumer Confidence data revealed an increase to 39.5 in March 2024, its highest level since April 2019. Sentiments improved on income growth, employment, and durable goods purchases, but overall livelihood sentiment remained steady at 37.6.

πŸ’Š Deal of the Day: Seaport Therapeutics, a clinical-stage biopharmaceutical company, raised a $100M Series A to advance Seaport's pipeline of neuropsychiatric medicines.

What's New?

πŸ›« Aviation.
Aviation index ends flat
πŸ’° Funding. Cybersecurity, biopharmaceuticals, agricultural technology + more
πŸ’Ό M&A. Pharmaceuticals & talent assessments
πŸ“… Economics. UK GDP Data, inflation, balance of trade + more

πŸ›« Aviation Index Ends Flat

The aviation index has experienced some volatility over the past three months but ended flat. While global air travel has returned to pre-pandemic levels, recent accidents and technical issues in Boeing aircraft have plagued most airlines, causing flights to be canceled. Investor confidence amidst the rising frequency of mechanical failures has dwindled, resulting in less-than-ideal stock performances. Singapore Airlines ($14B MCap) and SouthWest Airlines ($17B MCap) saw flat performance over the quarter.

Delta Airlines ($30B MCap) was a notable exception, with 12% growth over the last quarter. The airline postponed its deliveries of Boeing 737 Max 10 aircraft, but its diverse fleet, including Airbus, Bombardier, and Embraer, likely mitigated the impact.

Fuel costs have also been on the rise for airlines, affecting their profitability ratios. This is made worse by the increased adoption of costlier sustainable aviation fuels as airlines attempt to find greener alternatives. However, global air travel volume is expected to exceed pre-Covid levels in 2024 as the Asia-Pacific region makes a full recovery. Driven by sustained demand, this could make 2024 a good year for airline profits.

πŸ’° Funding

πŸ›‘οΈ Cyera, a New York-based data security company, raised a $300M Series C from Coatue to expand its business reach.

πŸ’Š Seaport Therapeutics, a Massachusetts-based clinical-stage biopharmaceutical company, raised a $100M Series A from Sofinnova Investments & ARCH Venture Partners. The funding will be used to advance Seaport's pipeline of neuropsychiatric medicines.

πŸ’‰ Arnatar Therapeutics, a California-based biopharmaceutical company, raised a $50M Series A from 3E Bioventures to accelerate the development of its drug pipeline and clinical trials.

πŸ”¬ Reshape Biotech, a Danish lab tech startup developing automation robots, raised a $20M Series A from Astanor Ventures to facilitate its expansion in the US and attract talent.

🌱 Weenat, a French agritech startup providing agricultural professionals with meteorological sensors, raised a $8M Series C to expand operations across Europe.

🐟 Peptobiotics, a Singaporean startup that provides synthetic biology alternatives to antibiotics, raised a $6.2M Series A from Hatch Blue Ltd. to increase commercial volumes of its products.

πŸ’Ό M&A

πŸ’Š Essential Pharma Group, a UK-based pharma company, acquired Renaissance Pharma, a clinical-stage pharmaceutical company in the UK.

πŸŽ“ Multiverse, a UK-based tech startup matching individuals to apprenticeship programs, acquired Searchlight, a California-based talent intelligence & skills assessment platform.

πŸ“… Economic Calendar

UK GDP Data, Inflation, Balance of Trade + More

Wednesday, April 10th 2024

πŸ‡―πŸ‡΅ Japan Consumer Confidence Index, March
πŸ‡ΊπŸ‡Έ US Core Inflation Data, March
πŸ‡ΊπŸ‡Έ US Inflation Data, March
πŸ‡¨πŸ‡¦ Canada BoC Interest Decision

Thursday, April 11th 2024

πŸ‡¨πŸ‡³ China Inflation Data, March
πŸ‡ͺπŸ‡¦ Euro Area ECB Interest Rate Decision
πŸ‡ΊπŸ‡Έ US Producer Price Index, March

Friday, April 12th 2024

πŸ‡¬πŸ‡§ UK GDP Data, February
πŸ‡ΊπŸ‡Έ US Michigan Consumer Sentiment Index (Preliminary), April

Monday, April 15th 2024

πŸ‡ΊπŸ‡Έ US Retail Sales Data, March

Tuesday, April 16th 2024

πŸ‡¨πŸ‡³ China GDP Growth Data, Q1
πŸ‡¨πŸ‡³ China Industrial Production Data, March
πŸ‡¨πŸ‡³ China Retail Sales Data, March
πŸ‡¬πŸ‡§ UK Employment Data, February
πŸ‡©πŸ‡ͺ Germany ZEW Economic Sentiment Index, April
πŸ‡¨πŸ‡¦ Canada Inflation Data, March
πŸ‡ΊπŸ‡Έ US Building Permits (Preliminary), March

Wednesday, April 17th 2024

πŸ‡―πŸ‡΅ Japan Balance of Trade Data, March
πŸ‡¬πŸ‡§ UK Inflation Data, March

Friday, April 19th 2024

πŸ‡¬πŸ‡§ UK Retail Sales Data, March

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