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Hyperloop One announced Wednesday that it's promoted financial advisor Brent Callinicos to COO and CFO. The company is one of several racing to develop a high-speed train based on a concept developed by entrepreneur Elon Musk.

Top priority: Callinicos' first priority will be raising a Series C in the coming months, he told the Wall Street Journal. While at Uber as the company's CFO for three years, he helped the company raise more than $4 billion in equity and debt funding.

  • The funding round is likely to be large—in October, Forbes reported that the company plans to raise as much as $250 million in early 2017. Reached for comment, Hyperloop One declined to share specifics with Axios about its fundraising plans.

Extra marketing: In the next 90 days, Hyperloop One plans to do a demo of a new track, and while Callinicos says that the fundraising is unrelated to its construction, it will likely be a "flashy public display that is going to cause a spike in demand," he told the Journal.

Why now? Callinicos' promotion is in part due to a recent fight between some of Hyperloop One's executives. Co-founder Brogan BamBrogan and three other execs sued the company last year, alleging mismanagement.

Go deeper

USAID chief tests positive for coronavirus

An Air Force cargo jet delivers USAID supplies to Russia earlier this year. Photo: Mikhail Metzel/TASS via Getty Images

The acting administrator of the United States Agency for International Development informed senior staff Wednesday he has tested positive for coronavirus, two sources familiar with the call tell Axios.

Why it matters: John Barsa, who staffers say rarely wears a mask in their office, is the latest in a series of senior administration officials to contract the virus. His positive diagnosis comes amid broader turmoil at the agency following the election.

Bryan Walsh, author of Future
3 hours ago - Health

COVID-19 shows a bright future for vaccines

Illustration: Annelise Capossela/Axios

Promising results from COVID-19 vaccine trials offer hope not just that the pandemic could be ended sooner than expected, but that medicine itself may have a powerful new weapon.

Why it matters: Vaccines are, in the words of one expert, "the single most life-saving innovation ever," but progress had slowed in recent years. New gene-based technology that sped the arrival of the COVID vaccine will boost the overall field, and could even extend to mass killers like cancer.

5 hours ago - Health

Beware a Thanksgiving mirage

Illustration: Sarah Grillo/Axios

Don't be surprised if COVID metrics plunge over the next few days, only to spike next week.

Why it matters: The COVID Tracking Project warns of a "double-weekend pattern" on Thanksgiving — where the usual weekend backlog of data is tacked on to a holiday.