🤖 $675M Humanoid Robot Funding. Ports Surge 20%.

Kamusta 🏝️

📉 Today's Global Economic Update: India's GDP grew by 8.4% in Q4 2023, up from 7.6% in the previous quarter, primarily driven by robust activity in manufacturing and construction sectors. This is the fastest pace of growth recorded in one and a half years and positions India as the world's fastest-growing major economy.

🤖 Deal of the Day: Figure has raised $675M in a Series B funding round to speed up the deployment of humanoid robots.

What's New?

• 🚢 Ports. Ports index up 20%
• 💰 Funding. Fervo Energy raises $244M, robotics, EV charging, biotech deals & more
• 💼 M&A. Ginkgo Bioworks acquisition of Proof Diagnostics
• 📅 Economics. Europe inflation data, balance of trade, Australia GDP+ more

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🚢 Ports Index Up 20%

HolonIQ’s Ports Index has experienced a 20% increase over the past year. Major stocks in the index registered increases, with Qingdao Port International ($6B MCap) rising 19% and China Merchants Port Group ($6B MCap) up 10%. However, CK Hutchison Holdings ($20B MCap) saw a 17% decline, dampening the increase in the index.

Port activity worldwide has seen a steady rebound as disruptions stemming from the pandemic subsided, with the clearing of backlogs continuing. Wait times in ports surged during the pandemic; however have normalized since, with improvements in efficiency from better infrastructure and higher labor productivity. The World Bank has emphasized the potential for productivity gains in maritime logistics through digital technology integration, which can also help lower emissions and address the challenge of decarbonizing the maritime sector. To build resilience against future uncertainties, including climate change, port efficiency needs enhancement through the adoption of new technologies, especially in developing economies. Promisingly, there has been a significant surge in investment towards port development globally, exemplified by initiatives like the U.S. Environmental Protection Agency's introduction of the $3 billion Clean Ports Program.

💰 Funding

🤖 Figure, an AI robotics company based in California, raised a $675M Series B to speed up the commercial deployment of humanoid robots.

🌋 Fervo Energy, a Texas-based geothermal development company, raised $244M from Devon Energy to enhance growth and integrate new technologies.

☀️ ENVIRIA, a German decentralized energy solutions provider, raised a $200M Series B from BlackRock for the expansion of solar projects across Germany.

🚗 Powerdot, a Portugal-based EV charging point operator, raised $108M from Antin Infrastructure Partners and Arié Group to accelerate R&D projects and expand its charging infrastructure.

🧬 Kenai Therapeutics, a California-based biotechnology company, raised a $82M Series A from Alaska Permanent Fund Corporation to advance cell therapies for the treatment of neurological conditions.

💊 Orbis Medicines, a Danish drug discovery platform, raised a $28M Seed from Novo Holdings & Forbion Capital Partners to advance its portfolio of next-generation drugs called ‘nCycles’.

🐄 Firstfarms, a Denmark-based agricultural company, raised $27M from Heartland to increase revenue and develop a more sustainable operation.

🔋 Anthro Energy, a California-based provider of lithium-ion batteries, raised a $20M Series A from Collaborative Fund to commercialize and scale its battery technologies.

💼 M&A

🩺 Ginkgo Bioworks, a Maryland-based biotechnology firm, acquired Proof Diagnostics, a Massachusetts-based health technology company.

📅 Economic Calendar

Europe Inflation Data, Balance of Trade, Australia GDP + More

Friday, March 01st 2024

🇪🇦 Euro Area Inflation Data (Flash), February
🇮🇹 Italy GDP Data, 2024
🇮🇹 Italy Inflation Data (Preliminary), February
🇮🇹 Italy Government Budget, 2023
🇺🇸 US ISM Manufacturing PMI (Preliminary), February

Tuesday, March 5th 2024

🇺🇸 US ISM Services PMI, February

Wednesday, March 6th 2024

🇦🇺 Australia GDP Growth Data, Q4
🇩🇪 Germany Balance of Trade, January
🇨🇦 Canada BoC Interest Rate Decision
🇨🇦 Canada Ivey PMI, February
🇺🇸 US JOLTs Job Openings, January

Thursday, March 7th 2024

🇦🇺 Australia Balance of Trade, January
🇨🇳 China Balance of Trade, Jan-Feb
🇪🇦 Euro Area Deposit Facility Data
🇪🇦 Euro Area ECB Interest Rate Decision
🇨🇦 Canada Balance of Trade, January
🇪🇦 Euro Area ECB Press Conference

Friday, March 8th 2024

🇨🇦 Canada Unemployment Data, February
🇺🇸 US Non-Farm Payrolls, February
🇺🇸 US Unemployment Data, February

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