๐Ÿ›ก๏ธ Defense Stock Index Up 32%. $45M+ VC Funding.

Impact Capital Markets #56 looks at our Defense stock index, major impact deals, M&A, and upcoming economic releases.

Hรฅfa Adai ๐ŸŒด

๐Ÿ“‰ Today's Global Economic Update: Japan's annual inflation rate increased to 2.8% in February 2024, ending three months of consecutive decline. The increase comes as energy subsidies introduced in February 2023 begin to lose effect.

๐ŸŒ Deal of the Day: Espresso Systems, a startup providing systems for Web 3 applications, raised a $23M Series B to develop its product.

What's New?

  • ๐Ÿ›ก๏ธ Defense. Defense stock index up 32%
  • ๐Ÿ’ฐ Funding. Blockchain security & cloud-based software
  • ๐Ÿ’ผ M&A. Medsystems acquires Aeskins
  • ๐Ÿ“… Economics. Inflation, US GDP, personal income & spending + more

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๐Ÿ›ก๏ธ Defense Stock Index Up 32%

HolonIQ's Defense Index has increased by 32% over the past year amid increased global military spending and geopolitical tensions. Countries worldwide are bolstering their defense budgets, which has led to higher revenue for companies in the sector. Despite economic fluctuations, defense stocks have remained profitable, driven by steady demand for military aerospace products, naval and submarine construction, advanced land vehicles, and weapons manufacturing. Airbus SE ($146B MCap) has increased by 43% over the past year, with General Dynamics Corp. ($77B MCap) rising by 25% and L3Harris Technologies ($40B MCap) by 9%. With opportunities for localization, export growth, and sustained demand fueled by continued government investments in defense capabilities, companies in the sector are likely to see sustained demand.

๐Ÿ’ฐ Funding

๐ŸŒ Espresso Systems, a California-based startup providing scaling and privacy systems for Web 3 applications, raised a $28M Series B from Andreessen Horowitz for product development.

โ˜๏ธ Ediphi, a Massachusetts-based cloud-based platform providing cost estimating solutions, raised a $12M Series A from Norwest Venture Partners to expand its team and invest in R&D.

๐Ÿช™ Rails, a Toronto-based crypto exchange, raised a $6.2M seed to scale operations.

๐Ÿ’ผ M&A

๐Ÿงด Medsystems, a Brazilian dermatological equipment manufacturer, acquired Aeskins, a Spanish biotech skincare solutions provider.

๐Ÿ“… Economic Calendar

Inflation, US GDP, Personal Income & Spending + More

Tuesday, March 26th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia Westpac Consumer Sentiment Index, March
๐Ÿ‡ฉ๐Ÿ‡ช Germany GfK Consumer Confidence Index, April
๐Ÿ‡บ๐Ÿ‡ธ US Durable Goods Orders Data, February

Thursday, March 28th 2024

๐Ÿ‡บ๐Ÿ‡ธ US Core PCE Price Index Data, February
๐Ÿ‡บ๐Ÿ‡ธ US GDP Growth Data, Q4

Friday, March 29th 2024

๐Ÿ‡ซ๐Ÿ‡ท France Inflation Data (Preliminary), March
๐Ÿ‡ฎ๐Ÿ‡น Italy Inflation Data (Preliminary), March
๐Ÿ‡บ๐Ÿ‡ธ US Personal Income & Spending Data, February

Monday, April 1st 2024

๐Ÿ‡ฏ๐Ÿ‡ต Japan Tankan Large Manufacturers Index, Q1
๐Ÿ‡จ๐Ÿ‡ณ China Caixin Manufacturing PMI, March
๐Ÿ‡บ๐Ÿ‡ธ US ISM Manufacturing PMI, March

Tuesday, April 2nd 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia RBA Meeting Minutes
๐Ÿ‡ฉ๐Ÿ‡ช Germany Inflation Data (Preliminary), March
๐Ÿ‡บ๐Ÿ‡ธ US JOLTs Job Openings, February

Wednesday, April 3rd 2024

๐Ÿ‡ช๐Ÿ‡ฆ Euro Area Inflation Data, March
๐Ÿ‡บ๐Ÿ‡ธ US ISM Services PMI, March

Friday, April 5th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia Balance of Trade Data, February
๐Ÿ‡จ๐Ÿ‡ฆ Canada Balance of Trade Data, February
๐Ÿ‡จ๐Ÿ‡ฆ Canada Employment Data, March
๐Ÿ‡บ๐Ÿ‡ธ US Employment Data, March
๐Ÿ‡จ๐Ÿ‡ฆ Canada Ivey PMI, March


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