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πŸš‚ Rail Index Up 28%. $400M+ VC Funding Day.

Impact Capital Markets #109 looks at our rail Stock Index, major impact deals, M&A, and upcoming economic releases.

Hej 🌲

πŸ“ˆ Today's Global Economic Update: European stocks rose in early trading on Thursday, as markets showed strong confidence in an interest rate cut at today's European Central Bank policy meeting. Key benchmarks, including London's FTSE 100, Germany's DAX, and Europe's STOXX 600, were up between 0.3% to 0.8% during the early trading session in expectation of the rate cut.

πŸ–¨οΈ Deal of the Day: Restor3d, a personalized 3D-printed orthopedic implants company, raised a $55M Series A to accelerate its growth and innovation.

What's New?

πŸš‚ Rail. Rail index up 28%
πŸ’° Funding. Orthopedic implants, health tech, advanced medicines + more
πŸ’Ό M&A. Coal mining and employee engagement
πŸ“… Economics. Euro area interest rate, US employment data, balance of trade + more

πŸš‚ Rail Index Up 28%

HolonIQ's Rail Index is up by 28% compared to last year. This is a moderation compared to the 70% Year-on-Year increase recorded in the index three months ago. This slower growth is because of higher 'base effects' created by the index's sharp rise in the second quarter of 2023, making the starting point of the Year-on-Year calculation higher. Index growth mainly came from Indian Railway Finance Corp Ltd ($27B MCap), which saw a significant 131% increase in the past 6 months. Investors are optimistic about increased government funding for railway projects in India while IRFC's addition to the Nifty Next 50 index has encouraged more investment from index funds.

Governments globally are investing more in infrastructure projects, including high-speed rail lines and better freight corridors, which are benefiting railway companies. Major players in the index like Union Pacific Corp ($139B MCap) and Canadian National Railway Co ($80B MCap) have seen their stock prices go up by 13% and 8% respectively over the past year. Rail operators are improving passenger services, and rising oil prices are making rail freight more attractive. Prospects for the industry remain strong, with predictions indicating a doubling of train travel by 2050.

πŸ’° Funding

πŸ–¨οΈ Restor3d, a UK-based personalized 3D-printed orthopedic implants company, raised a $55M Series A to accelerate its growth and innovation.

πŸ’Έ Nium, a California-based payment solution provider, raised a $50M Series E from sovereign wealth fund in Southeast Asia to expand its global network.

πŸ“Ή Twelve Labs, a California-based video understanding company, raised a $50M Series A from New Enterprise Associates (NEA) and NVentures to expand its teams.

πŸ”¬ Eko Health, a California-based Health tech company, raised a $41M Series D to strengthen its U.S. presence and expand into key international markets.

πŸ’± M^O Labs, a Swiss crypto infrastructure company, raised a $35M Series A from Bain Capital Crypto to broaden activities and enhance growth initiatives.

🩺 Advanced Medicine Partners, a UK-based developer of advanced medicines, raised a $32M Series A from Deerfield Management to advance their technology.

🎀 LiveKit, a California-based voice application platform, raised a $22M Series A from Altimeter Capital to grow its operations and development efforts.

⚑ Gireve, a French EV charging company, raised $21.8M from Partech to expand its platform globally.

πŸ… Spiideo, a Swedish sports tech company, raised $20M from Cipio Partners to grow innovations and drive growth by expanding its product and international sales teams.

πŸ€– Sixfold, a New York-based AI platform, raised a $15M Series A from Salesforce Ventures to further expand its time and accelerate R&D efforts.

πŸ’Ό M&A

πŸ‘¨β€πŸ’Ό Chronus, a Washington-based employee-driven development platform, acquired Imperative, a Washington-based employee engagement platform.

πŸ—οΈ JSW Steel, an Indian distributor of steel products, acquired Minas de RevuboΓ¨ Limitada, a Mozambique-based coal mining company.

πŸ“… Economic Calendar

Euro Area Interest Rate, US Employment Data, Balance of Trade + More

Thursday, June 06th 2024

πŸ‡ͺπŸ‡¦ Euro Area Deposit Facility Rate
πŸ‡ͺπŸ‡¦ Euro Area ECB Interest Rate Decision
πŸ‡¨πŸ‡¦ Canada Balance of Trade, April
πŸ‡ͺπŸ‡¦ Euro Area ECB Press Conference
πŸ‡¨πŸ‡¦ Canada Ivey PMI s.a, May
πŸ‡¨πŸ‡³ China Balance of Trade, May

Friday, June 7th 2024

πŸ‡©πŸ‡ͺ Germany Balance of Trade Data, April
πŸ‡¨πŸ‡¦ Canada Balance of Trade Data, April
πŸ‡¨πŸ‡¦ Canada Employment Data, May
πŸ‡ΊπŸ‡Έ US Employment Data, May

Monday, June 10th 2024

πŸ‡¦πŸ‡Ί NAB Business Confidence, May

Tuesday, June 11th 2024

πŸ‡¬πŸ‡§ UK Employment Data, April
πŸ‡¨πŸ‡³ China Inflation Data YoY, May

Wednesday, June 12th 2024

πŸ‡¬πŸ‡§ UK GDP, April
πŸ‡ΊπŸ‡Έ US Core Inflation Data, May
πŸ‡ΊπŸ‡Έ US Inflation Data, May
πŸ‡ΊπŸ‡Έ US Fed Interest Rate Decision
πŸ‡ΊπŸ‡Έ US FOMC Economic Projections
πŸ‡ΊπŸ‡Έ US Fed Press Conference
πŸ‡¦πŸ‡Ί Australia Westpac Consumer Confidence Change, June

Thursday, June 13th 2024

πŸ‡ΊπŸ‡Έ US PPI, May

Friday, June 14th 2024

πŸ‡―πŸ‡΅ Japan BoJ Interest Rate Decision
πŸ‡ΊπŸ‡Έ Michigan Consumer Sentiment (Preliminary), June

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