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📞Telecommunications Up 7%. $1B+ VC Funding.

Impact Capital Markets #124 looks at our Telecommunications Stock Index, major impact deals, M&A, and upcoming economic releases.

Bawo 🍁

📈 Today's Global Economic Update: Canada's annual inflation rate increased to 2.9% in May 2024 from 2.7% in April, surpassing expectations. This unexpected increase, driven by higher transportation, food, and health care costs, challenges predictions of continued loosening of monetary policy by the central bank.

💊 Deal of the Day: Formation Bio, an AI-based pharma company, raised a $372M Series D to acquire and in-licensing candidate drugs, and expand their AI capabilities.

What's New?

📞Telecommunications. Telecommunications up 7%
💰 Funding. AI-based pharma, insurtech + more
💼 M&A. biotech, energy service and Software development
📅 Economics. US GDP, euro area inflation, balance of trade + more

📞Telecommunications Up 7%

HolonIQ's telecommunications index has grown by 7% over the past year, with a moderate 2% increase in the last three months. Despite the progress of technologies like 5G and fiber connections, the telecom industry faces long-standing challenges. For instance, while these advancements offer much faster speeds, they require more infrastructure, which can be expensive for firms. However, the increasing usage of 5G smart devices has driven revenue growth, aiding the index's recovery this year.

The European Commission has proposed initiatives to bolster Europe's digital infrastructure through new legislation aimed at reducing regulations and increasing investments, a response to a request from Europe's telecom industry's struggles. The introduction of Starlink, SpaceX's satellite internet service and the upcoming Starlink Mini, a development that can have significant impact on Telcos, has also elicited mixed investor reactions. Amid similar developments, the industry is expected to see further growth in the long run, mainly driven by technological advancements.

💰 Funding

💊 Formation Bio, a New York-based AI-based pharma company, raised a $372M Series D from a16z to acquire and in-licensing candidate drugs, and expand their AI capabilities.

🥗 Foodsmart, a California-based telenutrition company, raised $200M from The Rise Fund to scale its operations.

🛡️ Sidecar Health, a California-based InsurTech company, raised a $165M Series D from Koch Disruptive Technologies to support its growth and expansion efforts.

🍔 Form Health, a Massachusetts-based science-based obesity care, raised a $38M Series B from Sound Ventures to accelerate its work in its telehealth technology platform.

🏞️ Onehouse, a California-based universal data lakehouse company, raised a $35M Series B from Craft Ventures to launch two new products into the market.

🤗 Sensi.AI, a California-based care intelligence company, raised a $31M Series B from Zeev Ventures and Insight Partners to broaden their business footprint.

💼 M&A

🧬 SK Bioscience, a South Korean biopharmaceutical company, to acquire IDT Biologika for $243M, a German biotech company.

💻 Significo, a Texas-based custom software development company, acquired Bunch AI, a New York-based AI-based leadership coaching provider.

THREE60 Energy, a UK-based energy service company, acquired Samphire, a UK-based engineering consulting firm.

📅 Economic Calendar

US GDP, Euro Area Inflation, Balance of Trade + More

Thursday, June 27th 2024

🇺🇸 US Durable Goods Orders, May
🇺🇸 US GDP Growth Data, Q1

Friday, June 28th 2024

🇫🇷 France Inflation Data (Preliminary), June
🇮🇹 Italy Inflation Data (Preliminary), June
🇺🇸 US Core PCE Price Index, May
🇺🇸 US Personal Income & Spending Data, May

Monday, July 1st 2024

🇯🇵 Japan Consumer Confidence, June
🇩🇪 Germany Inflation Data (Preliminary), June
🇺🇸 US ISM Manufacturing PMI, June

Tuesday, July 2nd 2024

🇪🇦 Euro Area Inflation Data, June
🇺🇸 US JOLTs Job Openings, May

Wednesday, July 3rd 2024

🇨🇦 Canada Balance of Trade, May
🇺🇸 US ISM Services PMI, June
🇦🇺 Australia Balance of Trade, May

Friday, July 5th 2024

🇨🇦 Canada Employment Data, June
🇺🇸 US Employment Data, June
🇨🇦 Canada Ivey PMI s.a, June

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