May 30, 2018

Scoop: Manufacturing startup Auto raises $200 million

Auto, a stealthy manufacturing tech startup led by former Autodesk co-CEO Amar Hanspal, has raised around $200 million in funding, Axios has learned from a source close to the company.

Quiet growth: The source adds that Auto was spun out of Flex around 10 months ago, and already has around 400 employees and "tens of millions of dollars in recognized revenue."

  • Flex is a minority shareholder, while other backers include Eclipse Ventures (led by ex-Flex exec Lior Susan).
  • Directors include Susan, Flex CEO Michael McNamara, former Autodesk CEO Carl Bass and Seagate exec chairman Steve Luczo.

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Coronavirus updates: CDC monitoring 4 presumptive positive cases in western U.S.

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

State public health authorities are monitoring four new presumptive positive cases of the novel coronavirus as of late Friday evening, per the CDC. California is evaluating a second possible instance of community spread as Oregon announced its first possible case. Washington state has two presumptive cases, only one of which is likely travel-related.

The big picture: COVID-19 has killed more than 2,900 people and infected more than 85,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 2 mins ago - Health

Don't panic

Illustration: Aïda Amer/Axios

The stock market is heading south with unprecedented velocity. Does that mean it's crashing? Are we in a recession? Is this a financial crisis?

No, no, and no.

Sanders' big socialism rebrand

Illustration: Sarah Grillo/Axios

Bernie Sanders is trying to rebrand socialism in the U.S., but he'll have to overcome common fears about what the word means — fears the Trump campaign is watching and waiting to exploit.

Why it matters: Sanders may face a major challenge in convincing Americans in their 40s or older that there's a meaningful difference between what he supports, described as democratic socialism, and the authoritarian socialism that we've seen in regimes like Venezuela.