> ## 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. # ๐ŸŒž 40%+ Solar Drop YoY. $400M+ VC Funding. - URL: https://newsletters.qs.com/extended-40-solar-drop-400m-vc-funding/ - Published: 2024-04-25T11:05:30.000Z - Updated: 2024-04-25T11:05:29.000Z - Description: Impact Capital Markets #79 looks at our Solar stock index, major impact deals, M&A, and upcoming economic releases. - Author: QS - Tags: Deals [**Kia ora**](https://en.wikipedia.org/wiki/Kia%5Fora?ref=newsletters.qs.com#:~:text=In%20other%20languages-,Meaning,or%20an%20expression%20of%20thanks.)๐Ÿฅ ๐Ÿ“‰ **Today's Global Economic Update:** In April 2024, [Germany's Ifo Business Climate indicator increased to 89.4](https://www.ifo.de/en/facts/2024-04-24/ifo-business-climate-index-rises-april-2024?ref=newsletters.qs.com), exceeding market forecasts and marking its third consecutive monthly rise. The rise reflects heightened optimism driven by expectations of potential ECB interest rate cuts and easing inflationary pressures. **๐Ÿ’‰ Deal of the Day:** Endeavor BioMedicines, a biotechnology company, raised a [$132.5M Series C](https://www.finsmes.com/2024/04/endeavor-biomedicines-raises-132-5m-in-series-c-financing.html?ref=newsletters.qs.com) to drive product development. **What's New?** **๐ŸŒž Solar.** 40%+ YoY solar slump, 7% down in 3M **๐Ÿ’ฐ Funding.** Biotechnology, virtual healthcare, workflow automation + more ๐Ÿ’ผ **M&A.** KnowBe4 acquires Egress software technologies ๐Ÿ“… **Economics.** US & Euro area GDP, Japan inflation rate, balance of trade + more ## **๐ŸŒž 40%+ YoY S**olar Slump, 7% down in 3M [![](https://storage.ghost.io/c/f1/d4/f1d411df-6f49-4c75-a302-f8c9e9f59495/content/images/2024/04/HolonIQ_HolonIQ_Solar_HIQSOLAR_HCH0ALY1FYW4YJSJVHA5.png)](https://index.holoniq.com/charts/HCH0ALY1FYW4YJSJVHA5/HolonIQ-Solar-%28HIQSOLAR%29?ref=newsletters.qs.com) HolonIQโ€™s Solar index is seeing a continued decline after the steep drop in 2H 2023, when the index plunged by more than 40%. The index declined 7% in the last 3 months, following some volatility. The downturn is mainly due to economic headwinds in China and the US, with China's economic slowdown and high interest rates in the US hurting the industry's profitability. LONGi Green Energy Technology ($19B MCap), a major manufacturer of solar panels, fell by 16% in the last 3 months as the company laid off workers and shifted production away from China due to the economic climate. In the US, record-high interest rates have raised the cost of solar power by one-third, impacting companies like Enphase Energy ($14B MCap), whose stock price has fallen 51% over the past year. The index is forecasted to recover towards the latter part of Q2 with companies like First Solar and Sungrow Power Supply showing positive returns over the last 3 months (22% and 9% respectively). Sungrow is expanding its reach in Thailand's solar market through a major partnership to provide battery storage and inverters for a multi-gigawatt renewable energy project helping sustain the stock price. Expected interest rate cuts by the US Federal Reserve in the coming months could also ease financing burdens and allow developers to restart stalled projects, improving profitability. ## **๐Ÿ’ฐ Funding** **๐Ÿ’‰ Endeavor BioMedicines**, a California-based biotechnology company, raised a [$132.5M Series C](https://www.finsmes.com/2024/04/endeavor-biomedicines-raises-132-5m-in-series-c-financing.html?ref=newsletters.qs.com) from AyurMaya to drive product development. **๐Ÿค– Parloa**, a German conversational AI platform raised a [$66M Series B](https://techcrunch.com/2024/04/24/parloa-a-conversational-ai-platform-for-customer-service-raises-66m/?ref=newsletters.qs.com), to accelerate growth in international markets. **๐Ÿฉบ Midi Health**, a California-based women's virtual healthcare clinic, raised a [$60M Series B](https://www.finsmes.com/2024/04/midi-health-raises-additional-60m-in-series-b-funding.html?ref=newsletters.qs.com) from Emerson Collective to expand insurance coverage. **๐Ÿ”’ Tines**, an Irish workflow automation company, raised [$50M Series B](https://www.finsmes.com/2024/04/tines-raises-50m-in-new-funding.html?ref=newsletters.qs.com) from Felicis and Accel to expand its operations. **๐Ÿ” BforeAI**, a French predictive security company, raised a [$15M Series A](https://www.finsmes.com/2024/04/bforeai-raises-15m-in-series-a-funding.html?ref=newsletters.qs.com) from SYN Ventures to recruit staff across all departments. **๐Ÿ“Š Alaffia Health**, a New York-based health tech company, raised [$10M](https://www.finsmes.com/2024/04/alaffia-health-raises-10m-in-funding.html?ref=newsletters.qs.com) from FirstMark Capital to broaden its market reach. ## **๐Ÿ’ผ M&A** **๐Ÿ“ง KnowBe4**, a Florida-based security platform [acquired](https://www.finsmes.com/2024/04/knowbe4-to-acquire-egress.html?ref=newsletters.qs.com) Egress Software Technologies, a UK-based data protection company. ## **๐Ÿ“…** Economic Calendar US & Euro Area GDP, Japan Interest Rate, Balance of Trade + More ### Thursday, April 25th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GfK Consumer Confidence Index, May](https://www.gfk.com/de/home?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US GDP Data, Q1](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡ฏ๐Ÿ‡ต [Japan BoJ Interest Rate Decision](https://www.boj.or.jp/?ref=newsletters.qs.com) ### Friday, April 26th 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Core PCE Price Index, March](https://www.bea.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Personal Income & Spending, March](https://www.bea.gov/?ref=newsletters.qs.com) ### Monday, April 29th 2024 ๐Ÿ‡ฉ๐Ÿ‡ช G[ermany Inflation Data (Preliminary), April](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China NBS Manufacturing PMI, April](https://www.stats.gov.cn/?ref=newsletters.qs.com) ๐Ÿ‡จ๐Ÿ‡ณ [China Caixin Manufacturing PMI, April](https://www.pmi.spglobal.com/public?ref=newsletters.qs.com) ### Tuesday, April 30th 2024 ๐Ÿ‡ซ๐Ÿ‡ท [France GDP Data (Preliminary), Q1](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ซ๐Ÿ‡ท [France Inflation Data (Preliminary), April](https://www.insee.fr/fr/accueil?ref=newsletters.qs.com) ๐Ÿ‡ฉ๐Ÿ‡ช [Germany GDP Data Flash, Q1](https://www.destatis.de/DE/Home/%5Finhalt.html?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy GDP Data, Q1](https://www.istat.it/?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area GDP Data Flash, Q1](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ช๐Ÿ‡ฆ [Euro Area Inflation Data Flash, April](https://ec.europa.eu/eurostat/?ref=newsletters.qs.com) ๐Ÿ‡ฎ๐Ÿ‡น [Italy Inflation Data (Preliminary), April](https://www.istat.it/?ref=newsletters.qs.com) ### Wednesday, May 1st 2024 ๐Ÿ‡ฏ๐Ÿ‡ต [Japan Consumer Confidence Index, April](https://www.cao.go.jp/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Manufacturing PMI, April](https://www.ismworld.org/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Job Openings, March](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Fed Interest Decision](https://www.federalreserve.gov/) ๐Ÿ‡ฆ๐Ÿ‡บ [Australia Balance of Trade Data, March](https://www.abs.gov.au/?ref=newsletters.qs.com) ### Thursday, May 2nd 2024 ๐Ÿ‡จ๐Ÿ‡ฆ [Canada Balance of Trade Data, March](https://www.statcan.gc.ca/?ref=newsletters.qs.com) ### Thursday, May 3rd 2024 ๐Ÿ‡บ๐Ÿ‡ธ [US Non-Farm Payrolls Data, April](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US Employment Data, April](https://www.bls.gov/?ref=newsletters.qs.com) ๐Ÿ‡บ๐Ÿ‡ธ [US ISM Services PMI, April](https://www.ismworld.org/?ref=newsletters.qs.com) [](https://www.bea.gov/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](https://www.bea.gov/?ref=newsletters.qs.com) [](https://www.ifo.de/?ref=newsletters.qs.com) [](http://www.sca.isr.umich.edu/?ref=newsletters.qs.com) [](https://www.ifo.de/?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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