๐Ÿ’ฐ $650M+ Funding Day. Aged Care Up 30%.

Impact Capital Markets #18 looks at our Aged care Stock Index, major impact deals and acquisitions, and the upcoming economic releases.

The IMF released its Jan 2024 World Economic Outlook yesterday, unveiling higher 2024 global growth than previously projected. Australiaโ€™s inflation hit a near two-year low sparking hopes that the RBA could cut interest rates next week for the first time in over 3 years.

Today's Topics

  • ๐Ÿ Aged Care . Aged Care Up 30% YoY
  • ๐Ÿ’ฐ Funding. $650M+ Funding in AI, Pharmaceuticals, Biotech, Drug Discovery & More
  • ๐Ÿ’ผ Acquisitions. Infrastructure, Real estate, AI and more
  • ๐Ÿ“… Economics. Major Interest Rate Decisions, Euro Area GDP & Inflation Releases + More

For unlimited access to more deals and economic updates, request a demo.

๐Ÿ  Aged Care Up 30% YoY

HolonIQ Aged Care (HIQAGEDC). 12-month indexed returns (returns on the index relative to the level on February 01, 2023) have been on the rise since March 2023. This was following a 15% drop between February and mid-March 2023. 

The Aged Care industry has witnessed notable progress, particularly in increased occupancy rates in assisted living facilities, signifying a heightened focus on elder care. Key companies like Encompass Health Corp. (Market Cap: US $7B),  reported significant revenue growth linked to the surge in occupancy rates, showcasing an elevated commitment to quality eldercare. Concurrently, advancements in HIV prevention have seen increased awareness, advocacy, and accessibility to preventive measures globally. 

Despite these positive trends, Brookdale Senior Living (Market Cap: US $1B) faced legal challenges due to alleged shortcomings in service quality, particularly related to understaffing issues in 2023. President Biden's proposal aims to ensure a minimum level of care from registered nurses and nurse assistants in assisted living facilities, addressing concerns about resident and staff safety amidst potential staffing cuts for increased earnings. This proposal may increase costs for aged care facilities, as staff expenses is large part of the cost structure.

๐Ÿ’ฐ Funding

๐Ÿค– Kore.ai, a Florida-based enterprise AI conversations company, raised a $150M Series D from FTV Capital to expand its market and plans to use AI innovation to provide meaningful business and human benefits on a large scale.

๐Ÿ’‰ Cour Pharmaceuticals, a Chicago-based biotech company, raised a $105M Series A from Lumina Ventures and Alpha Wave Ventures to test its treatments for Myasthenia Gravis and Type 1 Diabetes in their clinical trials.

๐Ÿงฌ Inari, a Massachusetts-based biotech company raised $103M from RCM Private Markets fund and other existing investors. The funds will be used to enhance its technology platform and speed up product commercialization.

๐Ÿ‘จโ€๐Ÿ’ป Codeium, a California-based company that provides an AI-powered coding toolkit, raised a $65M Series B from Kleiner Perkins to expand its engineering and sales teams and to invest in enterprise solutions.

๐Ÿฅ Accompany Health, a Maryland-based provider for low-income patients with complex needs in primary, behavioral, and social care, raised a $56M Series A. The funds will be used to expand global operations.

๐Ÿค– Portal,  a California-based company that provides tech for cryptocurrency access, raised a $34M seed from Coinbase Ventures, Arrington Capital and more, to advance its two flagship products: Portal DEX and Portal Wallet.

๐Ÿ’Š Aqemia, a France-based drug discovery company leveraging technology, raised a $32.5M Series A from Wendel Growth. The funds will be used to accelerate growth of drug discovery projects and scale up its GenAI.

๐Ÿง  Sema4.ai, a California-based startup that brings mission-critical AI to enterprises with open-source power raised $30.5M from Benchmark and Mayfield Fund to acquire the open source automation firm, Robocorp.

๐Ÿญ Boston Metal, a Massachusetts-based metals technology solution company, raised a $20M Series C from Marunouchi Innovation Partners to enlarge their presence in Asia, accelerate commercialization, and fuel growth.

๐Ÿฅ Vital Interaction,  a Texas-based healthcare technology company, raised a $15M Series A from Next Coast Ventures to grow its market presence, hire more staff, and invest in product development.

๐Ÿข Cultivo, a California-based public benefit corporation offering an AI-powered platform for science and technology, raised a $14M Series A from MassMutual and Octopus Energy Generation to advance its AI-driven science and technology platform.

โšก HDM Solar, a UK-based wholesaler of renewable energy products, raised $12.5M from DF Capital and other angel investors. The funds will be used to expand branches nationwide, create jobs, and offer local support for their products.

๐ŸŒฑ Tau Group, an Italian company that specializes in magnet wires targeted at electrification applications raised a $11.9M Series B from DP Venture Capital and Santander Alternative Investments. The funds will be used to increase production capacity at a new facility.

๐Ÿฉบ Wisedocs,  a Toronto-based medical machine learning SaaS company, raised a $9.5M Series A from Information Venture Partners, Thomason Reuters Ventures and ManchesterStory to broaden business outreach and expand operations.

๐Ÿ’ผ Acquisitions

โ˜€๏ธ Qualitas Energy, a Madrid-based renewable energy investment company, has signed a definitive agreement to acquire Heelstone Renewable Energy, a North Carolina-based power producer and solar developer.

๐Ÿค Arthur J. Gallagher & Co, an Illinois-based insurance brokerage and risk management services company acquired Horak Insurance a Washington-based general insurance company.

๐Ÿ  5M Group, an Illinois-based real estate firm, acquired Cox Interior, a Kentucky-based company crafting superior wood building products, including crown moldings, mantels, and stair parts, with a focus on design and manufacturing.

๐Ÿ’ง Core & Main, a Missouri-based distributor of water, sewer, stormwater and fire protection products signed a definite agreement to acquire Dana Kepner Company, a Colorado-based construction firm.

๐Ÿ’ก Facility Solutions Group, a Texas-based company that offers lighting, electrical, and energy management services, acquired Greenleaf Energy Solutions, a UK-based company that offers energy solutions and LED lighting.

๐Ÿค– Accenture, a Dublin-based professional service company, completed the acquisition of Ammagamma, an Italian company that aids companies enhance their use of AI.

๐ŸฆŒ BaseMap, Inc., an Idaho-based app for hunting, outdoor planning, and navigation with GPS acquired Huntscore, an Arkansas-based provider of tools for planning hunts and conducting research analytics.

๐Ÿ“… Economic Calendar

Major Interest Rate Decisions, Euro Area GDP & Inflation Releases + More

Wednesday January 31st 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - Inflation Data, Q4
๐Ÿ‡จ๐Ÿ‡ณ Canada - NBS Manufacturing PMI, January
๐Ÿ‡ฏ๐Ÿ‡ต Japan - Consumer Confidence, January
๐Ÿ‡ซ๐Ÿ‡ท France - Inflation Data, January
๐Ÿ‡ฉ๐Ÿ‡ช Germany - GDP Data, Q4
๐Ÿ‡ฉ๐Ÿ‡ช Germany - Inflation Data, January

Thursday February 1st 2024

๐Ÿ‡บ๐Ÿ‡ธ US - Fed Interest Rate Decision
๐Ÿ‡บ๐Ÿ‡ธ US - Fed Press Conference
๐Ÿ‡จ๐Ÿ‡ณ Canada - Caixin Manufacturing PMI, January
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area - Inflation Data, January
๐Ÿ‡ฎ๐Ÿ‡น Italy - Inflation Data, January
๐Ÿ‡ฌ๐Ÿ‡ง UK - BoE Interest Rate Decision
๐Ÿ‡บ๐Ÿ‡ธ US - ISM Manufacturing PMI, January

Friday February 2nd 2024

๐Ÿ‡บ๐Ÿ‡ธ US - Non Farm Payrolls, January
๐Ÿ‡บ๐Ÿ‡ธ US - Employment Data January

Monday February 5th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - Balance of Trade, December
๐Ÿ‡ฉ๐Ÿ‡ช Germany - Balance of Trade, December
๐Ÿ‡บ๐Ÿ‡ธ US - SM Services PMI, January

Tuesday February 6th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia - RBA Interest Rate Decision
๐Ÿ‡จ๐Ÿ‡ฆ Canada - Ivey PMI s.a , January

Wednesday February 7th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada - Balance of Trade , December

Thursday February 8th 2024

๐Ÿ‡จ๐Ÿ‡ณ China - Inflation Data, January

Friday February 9th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada - Unemployment Data, January

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