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Illustration: Eniola Odetunde/Axios

Peer-to-peer car rental company Getaround said Wednesday that it raised $140 million in new funding.

Why it matters: This comes near the end of a roller-coaster year for Getaround, which saw bookings drop by 75% at the start of the pandemic, but since has seen revenue double from pre-pandemic levels.

  • PeopleFund led the round, and was joined by Reinvent Capital, Henry McGovern, Pennant Capital and VectoIQ partners.

The big picture: The car rental market was significantly hit by the pandemic, with Hertz filing for bankruptcy in May, while others like Avis have implemented layoffs.

  • "As restrictions came into place around the world, we saw a progressively increasing initial impact — but we didn't go to zero," co-founder and CEO Sam Zaid tells Axios, adding that urban dwellers have sought out personal transportation options for essential needs and local travel.
  • San Francisco-based GetAround also did layoffs and reportedly sought a buyer before its business stabilized.

Go deeper

8 mins ago - Health

U.S. tops 88,000 COVID-19 cases, setting new single-day record

Expand chart
Data: COVID Tracking Project; Chart: Axios Visuals

The United States reported 88,452 new coronavirus cases on Thursday, setting a single-day record, according to data from the COVID Tracking Project.

The big picture: The country confirmed 1,049 additional deaths due to the virus, and there are over 46,000 people currently being hospitalized, suggesting the U.S. is experiencing a third wave heading into the winter months.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day.
  2. Politics: Top HHS spokesperson pitched coronavirus ad campaign as "helping the president" — Space Force's No. 2 general tests positive for coronavirus.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. Sports: MLB to investigate Dodgers player who joined celebration after positive COVID test.
  5. 🎧Podcast: The vaccine race turns toward nationalism.

The norms around science and politics are cracking

Illustration: Aïda Amer/Axios

Crafting successful public health measures depends on the ability of top scientists to gather data and report their findings unrestricted to policymakers.

State of play: But concern has spiked among health experts and physicians over what they see as an assault on key science protections, particularly during a raging pandemic. And a move last week by President Trump, via an executive order, is triggering even more worries.