๐Telecommunications 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 ๐
๐ 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.
๐ 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?
๐Telecommunications. Telecommunications up 7%
๐ฐ Funding. AI-based pharma, insurtech + more
๐ผ M&A. biotech, energy service and Software development
๐
Economics. US GDP, euro area inflation, balance of trade + more
๐Telecommunications 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.
๐ฐ Funding
๐ 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.
๐ฅ Foodsmart, a California-based telenutrition company, raised $200M from The Rise Fund to scale its operations.
๐ก๏ธ Sidecar Health, a California-based InsurTech company, raised a $165M Series D from Koch Disruptive Technologies to support its growth and expansion efforts.
๐ 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.
๐๏ธ Onehouse, a California-based universal data lakehouse company, raised a $35M Series B from Craft Ventures to launch two new products into the market.
๐ค Sensi.AI, a California-based care intelligence company, raised a $31M Series B from Zeev Ventures and Insight Partners to broaden their business footprint.
๐ผ M&A
๐งฌ SK Bioscience, a South Korean biopharmaceutical company, to acquire IDT Biologika for $243M, a German biotech company.
๐ป Significo, a Texas-based custom software development company, acquired Bunch AI, a New York-based AI-based leadership coaching provider.
โก THREE60 Energy, a UK-based energy service company, acquired Samphire, a UK-based engineering consulting firm.
๐ Economic Calendar
US GDP, Euro Area Inflation, Balance of Trade + More
Thursday, June 27th 2024
๐บ๐ธ US Durable Goods Orders, May
๐บ๐ธ US GDP Growth Data, Q1
Friday, June 28th 2024
๐ซ๐ท France Inflation Data (Preliminary), June
๐ฎ๐น Italy Inflation Data (Preliminary), June
๐บ๐ธ US Core PCE Price Index, May
๐บ๐ธ US Personal Income & Spending Data, May
Monday, July 1st 2024
๐ฏ๐ต Japan Consumer Confidence, June
๐ฉ๐ช Germany Inflation Data (Preliminary), June
๐บ๐ธ US ISM Manufacturing PMI, June
Tuesday, July 2nd 2024
๐ช๐ฆ Euro Area Inflation Data, June
๐บ๐ธ US JOLTs Job Openings, May
Wednesday, July 3rd 2024
๐จ๐ฆ Canada Balance of Trade, May
๐บ๐ธ US ISM Services PMI, June
๐ฆ๐บ Australia Balance of Trade, May
Friday, July 5th 2024
๐จ๐ฆ Canada Employment Data, June
๐บ๐ธ US Employment Data, June
๐จ๐ฆ Canada Ivey PMI s.a, June
Like getting this newsletter? For unlimited access to more deals and economic updates, request a demo.
Thank you for reading. Have a great week ahead!
Have some feedback or want to sponsor this newsletter? Let us know at hello@holoniq.com