>>> Arbe Robotics to raise USD 50m for autonomous driving radar system productio

Arbe Robotics to raise USD 50m for autonomous driving radar system production – CEO
12 JUN 2018
Arbe Robotics, an Israeli startup developing ultra-high-resolution radar for autonomous vehicles, is raising USD 50m in a Series B round, CEO Kobi Marenko said. The funding already received commitments of USD 10m in early 2018 and will close at the end of this year, he added.
The company has not yet selected an advisory firm for the process and is examining several options, the CEO said.
The majority of Arbe Robotics’ existing investors are based in Israel, and the company is now seeking investment from US and Chinese companies, Marenko said. The startup will avoid strategic investment, preferring pure financial injections, as the management believes this comes with “less problems, less issues.”
The majority of the Series B proceeds will be funneled into R&D and initial production expenses, Marenko said. Some will go towards sales and marketing but as the company is predominantly R&D-focused, this is not a priority, Marenko added.
Arbe Robotics will begin production in 1H19 and aims to break even by 2021, Marenko said. He declined to comment on the company’s cash burn, but said that it employs more than 50 people.
Arbe has raised over USD 13m in three separate rounds. Its investors include O.G. Tech Ventures and crowd funding platform OurCrowd, both companies led Arbe’s USD 10m raise in 2H17, Tel Aviv-based angel group iAngels, US VC Canaan Partners and Taya Ventures, an Israeli VC co-founded by Marenko.
Having previously sold two companies, Taptica and Logia Group, Marenko initially self-funded Arbe Robotics with USD 0.1m, keeping the company running until it received seed funding in early 2016.
The majority of the company’s team is based in Israel and it has staff in the US as well as a manager in China, Marenko said.
Arbe Robotics’ technology uses radar to generate a picture of the environment in front of a vehicle with granularity close to that of a camera, but with sensors that have a 300m range and are unaffected by weather conditions, Marenko said. The company was established in 2015.

>>> QuantCube Technology could raise up to EUR 25m in 2020 - CEO

QuantCube Technology could raise up to EUR 25m in 2020 - CEO
12 JUN 2018
QuantCube Technology, a French artificial intelligence-based startup providing macroeconomic and financial predictive analytics, will seek to raise EUR 20m-EUR 25m in its Series B funding in 2020, CEO Thanh-Long Huynh told this news service.
To accelerate its international expansion in the US and Asia especially, the French company could seek to attract global strategic players operating in the TMT sector, Huynh explained, adding the company would rebuff any potential takeover approaches.
Since its inception in 2013, the company has received one to two takeover approaches per year, he said, declining to give further details.
Huynh said he holds a majority stake in QuantCube Technology and could lose the majority after the Series B in 2020 but not the control.
The management will stay on board and will keep spearheading the company's international expansion and its upcoming diversification in other sectors like telecoms, insurance, mobility and transportation, he noted.
He named Chinese internet group Tencent Holdings [HKG:0700] as a good example of what kind of player the company would like to attract as a minority shareholder.
Tencent has not approached the company, he added.
The proceeds of the Series B in 2020 would help to launch the commercialization of predictive analysis tools for the insurance sector and traffic congestion management in large cities such as Paris, Huynh noted.
No financial advisor will be mandated for a potential Series B as the Parisian start-up could rely on the network of its current shareholders, the CEO said.
QuantCube Technology announced on 29 May it secured a USD 5m Series A from Moody's Corporation and Five Capital. The financing will help QuantCube Technology expand its global reach and platform development while strengthening its operations, data scientists and technology teams, as previously reported.
Through imaging, data collection and AI, QuantCube Technology provides strategic economic information in the short term for investment strategies, in the medium term for macroeconomic forecasts, and in the long term for the predictions of geopolitical risks, to financial institutions, government agencies and large corporates.
The company's main clients are hedge funds, asset management firms and private equity funds. The CEO named France Central Bank Banque de France as one of its main clients. He declined to give further details.
QauntCube Technology expects to reach a EUR 2.1m revenue in 2018. It posted a EUR 700k revenue in 2017. The start-up has 26 employees and plans to have 50 employees by the end of the year, the CEO said.

>>> What to look at today - 12th of June 2018

Stocks in Asia meandered and the yen weakened as investors await the details of a "comprehensive" and historic document signed by U.S. President Donald Trump and North Korean dictator Kim Jong Un.
With prospects for continued dialog between the two leaders diminishing geopolitical risks, the safe-haven yen offered the biggest reaction in an otherwise muted response by investors to the summit. Equities from Tokyo to Sydney swung between gains and losses. U.S. Treasury yields steadied. S&P 500 Index and FTSE 100 futures barely budged. The pound extended a decline as Theresa May’s landmark Brexit legislation goes to Parliament. Oil recovered as cracks in a pipeline threatened Nigerian exports.


Macro :
- Lagarde Sees Darker Clouds Over World Economy After G-7 Tiff
- Saudi Oil Output Said to Rise Above 10 Million Barrels a Day

Keep an eye on :
- ABBN SW : ABB CEO Says U.S. Tariffs Put Jobs at Risk: FT
- AIR LN : Air Partner Says Accounting Issue Has Been Contained, Resolved
- AAL LN ; M&G Agrees to Acquire Anglo American London HQ: Evening Standard
- CA FP : Carrefour, premier distributeur européen à s'allier avec Google - Challenges
- CO FP : Casino Group to Sell About EU1.5b in Non-Core Assets
- CO FP : Casino Divestments Show CEO Addressing Debt Problem: Bernstein
- CO FP : Lack of Clarity on Casino Disposal May Hold Back Shares: Goldman
- CRST LN : Crest Nicholson 1H Pretax Dips 2% to GBP74.8m; Revenue Rises 13%
- DAI GY : Daimler to Recall 774,000 Diesel Vehicles in Europe
- HEI GY : HeidelbergCement Vision 2020 Shows Cash Generative Nature: Davy
- HDD GY : Heidelberger Druck Outlook on EBITDA Margin Disappointed: Lampe
- NHH SM : Minor to Buy Additional 3.57% of NH From Oceanwood for EU90m
- RRS LN : Randgold Sees Development Decision on Massawa Project By Yr End
- SIK SW : Sika Board to Receive CHF11.2m Pay Stalled by Family Shareholder
- GLE FP : Societe Generale Names Georges Wega Head of West Africa Region
- STERV FH : Stora Enso Holder Solidium Oy to Offer 14m Shrs via Carnegie
- TKA GY : Elliott Urges Thyssenkrupp to Negotiate Better Tata Deal (1)
- UN01 GY : Fortum Is Said to Win EU Approval for Uniper Stake Purchase:Rtrs
- WPP LN : Over 25% of WPP Holders May Have Voted Against Pay Report: Sky

>>> Europe : Brokers Upgades & Downgrades - 12th of June 2018

>>> Up
* Anglo Pacific Group Upgraded to Buy at Peel Hunt
* Centrica Upgraded to Buy at Jefferies; PT 1.65 Pounds
* Stroeer Raised to Outperform at MainFirst; Price Target 66 Euros

>>> Down
* Amerisur Resources Downgraded to Reduce at GMP; PT 15 Pence
* Deutsche Post Downgraded to Hold at DZ Bank; PT 32 Euros
* Deutsche Post Downgraded to Sector Perform at RBC; PT 33 Euros
* EDP Renovaveis Cut to Market Perform at BBVA; PT 8.10 Euros
* Halma Downgraded to Add at Investec; PT 15.10 Pounds
* Norma Cut to Hold at Quirin Privatbank AG; Price Target 70 Euros
* Rotork Cut to Equal-weight at Morgan Stanley; PT 3.60 Pounds

>>> Initiation
* Metro AG Rated New Hold at SocGen; PT 12 Euros
* SMCP Rated New Buy at Goldman; PT 30 Euros

>>> Call

>>> US Close Dow +0,02% S&P +0,11% Nasdaq +0,19% Russell +0,13%

Closing Market Summary: Stocks Tick Higher Ahead of Trump-Kim Summit

U.S. equities eked out a slim victory on Monday as investors shrugged off a contentious Group of Seven meeting and looked ahead to a historic summit between President Donald Trump and North Korean leader Kim Jong Un. The S&P 500 was up 0.3% with just 10 minutes to go, but a late bout of selling left the index with a gain of 0.1%.

Mr. Trump's meeting with Mr. Kim is scheduled to begin in Singapore at around 9:00 PM ET and will mark the first time that a sitting U.S. president has met with a North Korean leader. The two sides will attempt to come to some sort of agreement on denuclearization that'll likely require security assurances from the U.S. However, the chance of success remains unclear as officials engaged in last-minute talks ahead of the meeting are reportedly struggling to bridge the gaps on some of the most basic issues, according to the New York Times.

Separately,the annual Group of Seven summit over the weekend ended on a contentious note after President Trump decided to forego signing a joint statement in response to comments from Canadian Prime Minister Justin Trudeau, who vowed to retaliate against Mr. Trump's recently imposed tariffs on steel and aluminum imports.

Most S&P 500 sectors finished Monday with modest gains. However, the telecom services and consumer staples groups outperformed, adding 0.7% and 0.8%, respectively. The health care sector (+0.1%), meanwhile, finished roughly in line with the broader market even though Boston Scientific (BSX 34.32, +2.37) soared 7.4% on news that rival Stryker (SYK 169.78, -9.17) has made a takeover approach.

Retailers had another positive outing, pushing the SPDR S&P Retail ETF (XRT 50.07, +0.52) higher by 1.1%. With Monday's advance, the XRT is now up 8.0% for the month of June, nearly triple the S&P 500's month-to-date gain of 2.8%. The consumer discretionary sector, which houses the bulk of retailers, finished with a gain of 0.3%.

On the downside, the utilities and financials spaces were the weakest performers, shedding 0.3% apiece.

Elsewhere, U.S. Treasuries ended Monday on a lower note, pushing yields higher across the curve. The yield on the benchmark 10-yr Treasury note advanced two basis points to 2.96%. Meanwhile, West Texas Intermediate crude futures climbed 0.5% to $66.11 per barrel, hitting their best level in more than a week.

Investors didn't receive any notable economic data on Monday. However, they will receive several reports on Tuesday, including the Consumer Price Index for May (consensus +0.3%), the Treasury Budget for May, and the NFIB Small Business Optimism Index for May.

  • Nasdaq Composite +11.0% YTD
  • Russell 2000 +9.1% YTD
  • S&P 500 +4.1% YTD
  • Dow Jones Industrial Average +2.4% YTD