Dec 1, 2017

Tech startup for farmers raises $110 million

Dan Primack

Photo by Michael S. Williamson/Getty

Farmers Business Network, a farmer-to-farmer network for crowd-sourcing information on things like seed prices, has raised $110 million in new venture capital funding.

Why it matters: Independent farmers seem to be under siege on all sides, whether it be by their suppliers, mega-rivals or customers. This is an attempt to help even the playing field via both older Internet technology (a version of social networking) and newer technology (data analytics that can incorporate such things drone data and correct pricing for modified seed types).

Investors: T. Rowe Piece and Temasek co-led the round for San Carlos, Calif.-based FBN, and were joined by return backers Acre Venture Partners, Kleiner Perkins, GV and DBL Partners.

Bottom line: "More than 170,000 people make their business by farming major crops, yet they have among the lowest return on their assets because they're so fragmented, leading to information asymmetry and a lack of bargaining power." — Connie Loizos, TechCrunch

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Rebecca Falconer, Orion Rummler, Marisa Fernandez

U.S. coronavirus updates: New York reports record 630 deaths in 24 hours

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

New York reported 630 new deaths in 24 hours, Gov. Andrew Cuomo said Saturday — an "all-time increase" that beat the previous day's record of 562 deaths in a single day.

The big picture: As expected, COVID-19 death tolls are rising in the U.S., killing more than 7,100 people in total, and over 1,000 in 24 hours alone. The CDC is recommending Americans wear face coverings in public to help stop the spread, marking a significant change in messaging from the Trump administration.

Go deeperArrowUpdated 5 mins ago - Health
Axios

World coronavirus updates: Spain tracks more cases than Italy

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 and confirmed plus presumptive cases from the CDC

Spain overtook Italy in its number of coronavirus cases on Saturday, as the global death toll surpassed 60,000, per Johns Hopkins data.

The latest: About half the planet's population is on lockdown amid the coronavirus crisis. Fatalities are exponentially increasing across Europe, with roughly half of deaths worldwide located in Italy and Spain.

Go deeperArrowUpdated 7 mins ago - Health
Axios

Coronavirus dashboard

Illustration: Axios Visuals

  1. Global: Total confirmed cases as of 12 p.m. ET: 1,140,327 — Total deaths: 60,887 — Total recoveries: 233,930 — Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 278,568 — Total deaths: 7,163 — Total recoveries: 9,920 — Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus. The federal government will cover the costs of COVID-19 treatment for the uninsured.
  4. 2020 latest: "I think a lot of people cheat with mail-in voting," President Trump said of the 2020 election, as more states hold primaries by mail. Montana Gov. Steve Bullock said Friday that every county in the state has opted to expand mail-in voting for the state's June 2 primary.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: A pivotal Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Military updates: Senators call for independent investigation into the firing of Navy captain of the U.S.S. Theodore Roosevelt. The U.S. military is struggling to find new recruits as enlistment stations are shut down.
  8. 1 🏀 thing: The WNBA is postponing the start of its training camps and season.
  9. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Keep ReadingArrowUpdated 11 mins ago - Politics & Policy