Illustration: Sarah Grillo/Axios

Apeel Sciences, a Santa Barbara, Calif.-based developer of rot-reduction coatings for produce, raised $250 million in new funding led by GIC at a valuation north of $1 billion.

Why it matters: If you buy avocados at Kroger, or at the largest grocery chains in Germany or Denmark, you're getting one with an Apeel coating. It's also now being applied to other fruits like organic apples and limes, and soon to vegetables like asparagus and cucumbers.

  • Other investors were Viking Global Investors, Upfront Ventures, Tao Capital Partners, Rock Creek Group, Oprah Winfrey, and Katy Perry.

The bottom line: "COVID-19 has shown how tightly wound and stretched our food system is, and food waste acts as an enormous tax on it." — James Rogers, Apeel Sciences founder and CEO, to Axios

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Illustration: Sarah Grillo/Axios

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  2. U.S.: Total confirmed cases as of 3:30 p.m. ET: 2,715,124 — Total deaths: 128,439 — Total recoveries: 729,994 — Total tested: 32,827,359Map.
  3. Public health: What we know about the immune response to coronavirus and what it means for a vaccine.
  4. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  5. States: Florida reports more than 10,000 new coronavirus cases — 5 states saw 27% spike in heart-related deaths in first 3 months of coronavirus pandemic.

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Illustration: Eniola Odetunde/Axios

Scientists are inching closer to understanding how antibodies and immune cells are unleashed by the body in response to the novel coronavirus.

Why it matters: Natural immunity differs from that afforded by vaccination but it offers clues for the design of effective vaccines and therapies.

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Cash can't fix the economy's problems until the coronavirus is curbed

Illustration: Sarah Grillo/Axios

There's plenty of money. It's just not moving to where it's needed.

Driving the news: Thursday's jobs report showed 4.8 million jobs created in June, but those were overwhelmingly people beginning to return to places where they had been temporarily laid off. The number of "permanent job losers" went up, not down, rising 25% in just one month to 2.8 million from 2.2 million.