Ola's mobile app. Photo: Ola

Ola, an Indian ride-hailing company, confirmed on Wednesday that it has raised $1.1 billion in new funding led by Chinese internet giant Tencent, with participation from existing investors including SoftBank. It also said that it's in advanced talks with other investors to add $1 billion in funding to the round. Bloomberg reported the fundraising earlier this month.

Why it matters: Though Uber has retreated from China, and recently Russia and neighboring countries, it's still hoping to win a big piece of the Indian ride-hailing market. Still, it's become clear that in some parts of the world, local players have certain advantages such as knowledge of the market, an established brand, and government support. Currently, Ola is in 110 cities in India, while Uber is in 30.

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Updated 44 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 12,009,301 — Total deaths: 548,799 — Total recoveries — 6,561,969Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 3,053,328 — Total deaths: 132,256 — Total recoveries: 953,420 — Total tested: 37,532,612Map.
  3. Public health: Houston mayor cancels Republican convention over coronavirus concerns Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
  4. Travel: United warns employees it may furlough 45% of U.S. workforce How the pandemic changed mobility habits, by state.
  5. Education: New York City schools will not fully reopen in fallHarvard and MIT sue Trump administration over rule barring foreign students from online classes.
  6. 🎧 Podcast: A misinformation "infodemic" is here.

Transcripts show George Floyd told police "I can't breathe" over 20 times

Photo: Gary Coronado/Los Angeles Times via Getty Images

Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

5 hours ago - Health

Fighting the coronavirus infodemic

Illustration: Sarah Grillo/Axios

An "infodemic" of misinformation and disinformation has helped cripple the response to the novel coronavirus.

Why it matters: High-powered social media accelerates the spread of lies and political polarization that motivates people to believe them. Unless the public health sphere can effectively counter misinformation, not even an effective vaccine may be enough to end the pandemic.