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πŸ”’ Cybersecurity Up 60%. $740M+ VC Funding.

Impact Capital Markets #125 looks at our Cybersecurity Stock Index, major impact deals, M&A, and upcoming economic releases.

Ma'alin 🌴

πŸ“ˆ Today's Global Economic Update: The U.S. economy expanded at an annualized 1.4% rate in Q1 2024, a slowdown from 3.4% in the previous quarter, revised figures showed. The upward revision was expected but is a significant slowdown from the 3.4% growth in the previous quarter.

πŸ”‹ Deal of the Day: Sila, a California-based battery materials company, raised a $375M Series G to scale its operations.

What's New?

πŸ”’ Cybersecurity. Cybersecurity index up 60%
πŸ’° Funding. Battery materials, AI hardware, energy storage + more
πŸ’Ό M&A. Biotechnology and tech research and advisory
πŸ“… Economics. Euro area inflation, employment data, balance of trade + more

πŸ”’ Cybersecurity Index Up 60%

HolonIQ’s Cybersecurity index increased 60% in the past year, rebounding sharply from a nearly 40% decline in January 2023. This growth reflects escalating cyberattacks, prompting heightened business prioritization globally. The average US data breach cost of about US$ 9.5M underscores the related financial risks for organizations.

CrowdStrike Holdings ($96B MCap), Broadcom ($733B MCap), and Palo Alto Networks ($109B MCap) have mirrored this growth trend, showing stock price increases of 17%, 20%, and 21%, respectively, over the past three months. These companies have capitalized on rising cybersecurity demands, with Palo Alto Networks reporting strong earnings of US$1.7 B in the second quarter of fiscal year 2024. Broadcom's strategic acquisitions and focus on AI innovations have driven its stock to new highs, with AI initiatives contributing significantly to its $12.49 billion 2Q revenue. CrowdStrike's recent inclusion in the S&P 500 underscores its profitability and pivotal role in addressing cybersecurity challenges. The outlook for the sector remains positive, with increasing AI integration and rising demand for cybersecurity solutions driving future prospects.

πŸ’° Funding

πŸ”‹ Sila, a California-based battery materials company, raised a $375M Series G from Sutter Hill Ventures to scale its operations.

πŸ› οΈ Axelera AI, a Dutch provider of AI hardware, raised a $68M Series B from invest-NL Deep Tech Fund to expand operations and its business reach.

πŸ” Odaseva, a California-based data security platform, raised a $54M Series C from Silver Lake Waterman to support growth and invest in data security.

πŸ“± KarmaCheck, a California-based software company, raised a $45M Series B from Parameter Ventures to accelerate tech development and expand into new industries.

⚑ e-Zinc, a Canadian energy storage company, raised a $31M Series A from Evok Innovations to start commercial pilot projects for its long-duration energy storage system.

πŸ’» Orby AI, a California-based technology company, raised $30M from New Enterprise Associates to accelerate the development and commercialization of the AI process automation platform.

πŸŽ“ MagicSchool AI, a Colorado-based EdTech platform, raised a $15M Series A from Bain Capital Ventures to expand tools for teachers and students.

πŸ’Ό M&A

πŸ” Ecosystm, a Singaporean technology research and advisory firm, acquired CoVentured, an Australian technology discovery cooperation.

πŸ’Š AbbVie, an Illinois-based biopharmaceutical company, acquired Celsius Therapeutics, a Massachusetts-based biotechnology company.

πŸ“… Economic Calendar

Euro Area Inflation, Employment Data, Balance of Trade + More

Friday, June 28th 2024

πŸ‡ΊπŸ‡Έ US Core PCE Price Index, May
πŸ‡ΊπŸ‡Έ US Personal Income & Spending Data, May

Monday, July 1st 2024

πŸ‡―πŸ‡΅ Japan Consumer Confidence, June
πŸ‡©πŸ‡ͺ Germany Inflation Data (Preliminary), June
πŸ‡ΊπŸ‡Έ US ISM Manufacturing PMI, June

Tuesday, July 2nd 2024

πŸ‡ͺπŸ‡¦ Euro Area Inflation Data, June
πŸ‡ΊπŸ‡Έ US JOLTs Job Openings, May

Wednesday, July 3rd 2024

πŸ‡¨πŸ‡¦ Canada Balance of Trade, May
πŸ‡ΊπŸ‡Έ US ISM Services PMI, June
πŸ‡¦πŸ‡Ί Australia Balance of Trade, May

Friday, July 5th 2024

πŸ‡¨πŸ‡¦ Canada Employment Data, June
πŸ‡ΊπŸ‡Έ US Employment Data, June
πŸ‡¨πŸ‡¦ Canada Ivey PMI s.a, June

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