> ## Content Index > Fetch the complete content index at: https://newsletters.qs.com/llms.txt > Use this file to discover other available public pages before exploring further. # ๐Ÿ”‹ Battery Tech and Lithium Down 5%. $700M+ VC Funding Day. - URL: https://newsletters.qs.com/battery-tech-and-lithium-down-5-700m-vc-funding-day/ - Published: 2024-06-26T11:25:37.000Z - Updated: 2024-06-26T11:25:37.000Z - Description: Impact Capital Markets #123 looks at our Battery Tech and Lithium Stock Index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Bula**](https://en.wikipedia.org/wiki/Fijian%5Flanguage?ref=newsletters.qs.com)๐ŸŒด ๐Ÿ“‰ **Today's Global Economic Update:** Germany's consumer confidence index [fell to -21.8 in July from -21.0 in June](https://www.gfk.com/de/presse/die-erholung-des-konsumklimas-legt-eine-pause-ein?ref=newsletters.qs.com), reversing four months of marginal improvements. Despite strong wage growth, economic uncertainties persist, dampening consumer spending in Europe's largest economy. ๐Ÿค– **Deal of the Day:** EvolutionaryScale, a New York-based biological AI therapeutics developer, raised a [$142M Seed](https://finance.yahoo.com/news/evolutionaryscale-lands-142-million-advance-100911758.html?ref=newsletters.qs.com) to advance its artificial intelligence capabilities focused on biology. **What's New?** ๐Ÿ”‹ **Battery Tech and Lithium.** Battery tech and lithium down 5% **๐Ÿ’ฐ Funding.** Bio AI, medical devices, biotechnology + more ๐Ÿ’ผ **M&A.** Flooring services, specialty pharma, and clinical research ๐Ÿ“… **Economics.** US GDP, Euro area inflation, balance of trade + more ## ๐Ÿ”‹ Battery Tech and Lithium Down 5% [![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/06/HolonIQ_HolonIQ_Battery_Tech_and_Lithium_Stock_Index_HIQBATT_HCHCC5ATPO04NE872MN1.png)](https://index.holoniq.com/charts/HCHCC5ATPO04NE872MN1/HolonIQ-Battery-Tech-and-Lithium-Stock-Index-%28HIQBATT%29?ref=newsletters.qs.com) Battery Tech and Lithium index is down 5% YOY, with the index not having yet reversed the decline seen in the latter half of 2023\. Investor sentiment towards lithium producers has weakened, driving notable stock price declines. This downturn is compounded by sluggish sales of EV batteries and decreasing prices for critical materials like lithium hydroxide. EV manufacturers negotiating lower battery prices with suppliers have further impacted industry profitability. Key players such as LG Energy Solution ($56B MCap), Toyota Motor Corp ($322B MCap), and Vale SA ($50B MCap) have experienced share price declines of 23%, 19%, and 9% respectively over the past 3 months. LG Energy Solution, which reported a 30% decline in sales in Q1 2024, has also projected a potential slowdown in global EV demand for 2024\. Major customers of the company, like General Motors, struggled to meet EV production targets in 2023, with both GM and Ford Motor Co. planning a shift from nickel-based batteries to iron-based batteries. This shift could significantly impact LG Energy Solution's sales outlook. Despite short-term challenges, investments in lithium technology are continuing, driven by advancements in extraction methods and sustained confidence in the future expansion of electric vehicle battery demand. ## **๐Ÿ’ฐ** Funding ## ๐Ÿค– **EvolutionaryScale**, a New York-based biological AI therapeutics developer, raised a [$142M Seed](https://finance.yahoo.com/news/evolutionaryscale-lands-142-million-advance-100911758.html?ref=newsletters.qs.com) from Nat Friedman, Daniel Gross, and Lux Capital to advance its artificial intelligence capabilities focused on biology. ๐Ÿ’ป **Bright Machines**, a California-based software company, raised a [$126M Series C](https://www.finsmes.com/2024/06/bright-machines-raises-126m-in-series-c-funding.html?ref=newsletters.qs.com) from BlackRock to launch new products, enhance software flexibility, and build partnerships with ecosystem partners. ๐Ÿ”ฌ **Endogenex**, a Minnesota-based medical device company, raised a [$88M Series C](https://www.finsmes.com/2024/06/endogenex-raises-88m-in-series-c-financing.html?ref=newsletters.qs.com) to complete the pivotal ReCET (Re-Cellularization via Electroporation Therapy) Clinical Study. ๐Ÿงฌ **Exsilio Therapeutics**, a Massachusetts-based biotechnology company, raised [$82M Series A](https://www.finsmes.com/2024/06/exsilio-therapeutics-raises-82m-in-series-a-financing.html?ref=newsletters.qs.com) from Novartis Venture Fund and Delos Capital to scale its operations. ๐Ÿ’Š **Function**, a Texas-based healthcare platform, raised a [$53M Series A](https://www.finsmes.com/2024/06/function-raises-series-a-53m-raised-in-total.html?ref=newsletters.qs.com) from Andreessen Horowitz to expand its technology and increase access to whole-body testing. ๐Ÿ’‰ **UroMems**, a French med-tech company, raised a [$47M Series C](https://www.prnewswire.com/news-releases/uromems-raises-record-47-million-44-million-in-series-c-financing-to-fund-pivotal-clinical-trials-of-the-uroactive-system-the-first-smart-automated-implant-to-treat-stress-urinary-incontinence-302177215.html?ref=newsletters.qs.com) from Crรฉdit Mutuel Innovation to finance pivotal clinical trials for the UroActiveโ„ข System, the first smart implant for stress urinary incontinence. ๐Ÿ’ฐ **Adonis**, a New York-based health finance tech company, raised a [$31M Series B](https://www.finsmes.com/2024/06/adonis-raises-31m-in-series-b-funding.html?ref=newsletters.qs.com) from Point72 Private Investments to speed up product innovation. ๐Ÿงฌ **Augustine Therapeutics**, a Belgian biopharmaceutical company, raised a [$18.2M Series A](https://www.businesswire.com/news/home/20240625396624/en/Augustine-Therapeutics-Raises-EUR-17-Million-in-a-Series-A-First-Closing-to-Advance-Lead-Candidate-Into-Clinical-Development-in-Neurological-Diseases?ref=newsletters.qs.com) from Asabys Partners to advance its lead candidate into a clinical trial. ## **๐Ÿ’ผ** M&A ๐Ÿ  **Energystore**, a UK-based manufacturer of insulation products, [acquired](https://www.insider.co.uk/news/scottish-flooring-firm-acquired-northern-33096638?ref=newsletters.qs.com) Advanced Traditional Screeding, a UK-based floor construction company. ๐Ÿ’Š **Frazier Healthcare Partners**, a Washington-based healthcare investment firm, [acquired](https://www.prnewswire.com/news-releases/biomatrix-specialty-infusion-pharmacy-acquired-by-frazier-healthcare-partners-302181238.html?ref=newsletters.qs.com) BioMatrix Specialty Pharmacy, a Florida-based specialty pharmacy platform company. ๐Ÿ”ฌ **ToxStrategies**, a North Carolina-based scientific consulting firm, [acquired](https://www.prnewswire.com/news-releases/toxstrategies-acquires-clintrex-research-corporation-302181076.html?ref=newsletters.qs.com) Clintrex Research Corporation, a Florida-based clinical research company. ## **๐Ÿ“…** Economic Calendar US GDP, Euro Area Inflation, Balance of Trade + More ### Wednesday, June 26th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence, July ](https://www.gfk.com/de/home?ref=newsletters.qs.com) ### Thursday, June 27th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Durable Goods Orders, May](https://www.census.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Growth Data, Q1](https://www.bea.gov/?ref=newsletters.qs.com) ### Friday, June 28th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), June](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), June](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index, May](https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending Data, May](https://www.bea.gov/news/2024/personal-income-and-outlays-april-2024?ref=newsletters.qs.com) ### Monday, July 1st 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Consumer Confidence, June](https://www.cao.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany Inflation Data (Preliminary), June ](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, June](https://www.ismworld.org/?ref=newsletters.qs.com) ### Tuesday, July 2nd 2024 ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data, June](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US JOLTs Job Openings, May](https://www.bls.gov/?ref=newsletters.qs.com) ### Wednesday, July 3rd 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade, May](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, June](https://www.ismworld.org/?ref=newsletters.qs.com) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade, May](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Friday, July 5th 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Employment Data, June](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, June](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Ivey PMI s.a, June](https://www.ivey.uwo.ca/?ref=newsletters.qs.com) --- **Like getting this newsletter?* For unlimited access to more deals and economic updates,* [*request a demo*](https://webforms.pipedrive.com/f/1uMbIPRqUeVuZ31jVtKWMWIuqU2ga1nKo8aotNdGihU16zgOzuTfRMb9XfIIGmcOT?ref=newsletters.qs.com)*.* --- **Thank you for reading. 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