✈️ Electric Aircraft Down 16%. $200M+ VC Funding.

Dia dhuit ☘️

📉 Today's Global Economic Update: Germany's inflation data revealed a decline to 2.2% in March 2024, marking the lowest rate since May 2021. Inflation is edging closer to the European Central Bank's target of 2.0%.

🧬 Deal of the Day: Onego Bio, a biotechnology company manufacturing animal-free egg white protein, raised a $29M Series A to scale operations.

What's New?

✈️ Electric Aircraft. Electric aircraft down 16%
💰 Funding. Biotech, workforce management, medical devices & more
💼 M&A. Clario acquires ArtiQ
📅 Economics. Inflation, balance of trade, US employment data + more

✈️ Electric Aircraft Down 16%

HolonIQ’s Electric Aircraft index has experienced a 16% decrease over the past quarter, despite experiencing a 5% yearly rise. The industry continues to be challenged by the weight and energy density of batteries, and there haven't been significant enough developments to sustain investor confidence. Past project failures, such as NASA's cancellation of its all-electric aircraft flight plan, have also increased overall uncertainty for the future of the industry. The emergence of sustainable aviation fuel, as tested by aircraft manufacturers and airlines, is an additional headwind for the electric aircraft index, and we expect continued negative performance in the medium term.

💰 Funding

🧬 Onego Bio, a Finnish biotechnology company manufacturing animal-free egg white protein, raised a $29M Series A from NordicNinja VC to scale operations.

🌾 Seso, a California-based workforce management platform provider for the agricultural industry, raised a $26M Series B from BOND to expand its platform.

📊 Modal, a California-based skills development platform for data and analytics professionals, raised a $25M Series A from Left Lane Capital to develop its platform.

💊 Melt Pharmaceuticals, a Massachusetts-based pharmaceutical company, raised a $24M Series B to develop its non‑opioid tablet for procedural sedation.

🩺 EarliTec Diagnostics, a Georgia-based medical device company, raised a $21.5M Series B from Nexus NeuroTech Ventures & Venture Investors Health Fund to advance clinical research in diagnosing autism in children.

💉 Praia Health, an Illinois-based digital health company, raised a $20M Series A from Frist Cressey Ventures to develop its health systems platform.

💇‍♂️ Traya Health, an Indian company producing hair loss treatments, raised a $9M Series A from Xponentia Capital Partners to develop its product range and expand its market position.

💼 M&A

🫁 Clario, a Pennsylvania-based healthcare research company, acquired ArtiQ, a Belgian AI software company dedicated to enhancing the diagnosis and monitoring of patients with respiratory conditions.

📅 Economic Calendar

Inflation, Balance of Trade, US Employment Data + More

Wednesday, April 3rd 2024

🇪🇦 Euro Area Inflation Data, March
🇺🇸 US ISM Services PMI, March

Friday, April 5th 2024

🇦🇺 Australia Balance of Trade Data, February
🇨🇦 Canada Balance of Trade Data, February
🇨🇦 Canada Employment Data, March
🇺🇸 US Employment Data, March
🇨🇦 Canada Ivey PMI, March

Monday, April 08th 2024

🇩🇪 Germany Balance of Trade Data, February

Tuesday, April 09th 2024

🇦🇺 Australia Westpac Consumer Sentiment Index, April
🇦🇺 Australia NAB Business Confidence Index, March

Wednesday, April 10th 2024

🇯🇵 Japan Consumer Confidence Index, March
🇺🇸 US Core Inflation Data, March
🇺🇸 US Inflation Data, March
🇨🇦 Canada BoC Interest Rate Decision

Thursday, April 11th 2024

🇨🇳 China Inflation Data, March
🇪🇦 Euro Area ECB Interest Rate Decision
🇺🇸 US Producer Price Index, March

Friday, April 12th 2024

🇬🇧 UK GDP Data, February
🇺🇸 US United States Michigan Consumer Sentiment (Preliminary), April

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