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Waymo's self-driving lineup. Photo: Waymo

Waymo said Tuesday that it has raised another roughly $750 million for its self-driving technology, expanding the size of its first external investment round to $3 billion.

Why it matters: With the coronavirus pandemic likely to speed consolidation among self-driving tech firms, investors are lining up behind companies they see as the most likely winners.

  • Until early March, when it announced a $2.25 billion financing round, Waymo had been funded entirely by Google and its corporate parent, Alphabet.
  • The latest investors include T. Rowe Price, Perry Creek Capital, Fidelity Management & Research Company, and others.
  • They join Silver Lake, Canada Pension Plan Investment Board, Mubadala Investment Company, Magna International, Andreessen Horowitz and AutoNation, who participated in the March 2 round.

The bottom line: Waymo CEO John Krafcik tells Axios the pandemic has underscored how fully self-driving technology can provide safe and hygienic personal mobility and delivery services.

Go deeper

Dan Primack, author of Pro Rata
Aug 4, 2020 - Economy & Business

Farmers Business Network raises $250 million at $1.75 billion valuation

Illustration: Aïda Amer/Axios

Farmers Business Network, a farmer-to-farmer information network, financing and e-commerce platform, raised $250 million in Series F funding led by BlackRock at a reported $1.75 billion valuation.

Why it matters: The pandemic has caused great hardship for many independent farmers, particularly those who sell into food-service segments or who grow commodity crops, so even marginal savings on things like seed can go a long way.

Everyone wants to be an influencer

Illustration: Aïda Amer/Axios

The number of people looking to become online influencers has exploded during the pandemic.

Why it matters: Almost anyone can find themselves in a position to become an influencer, and brands are throwing billions of dollars at online content creators.

At least 3 dead after Amtrak train derails in Montana

Photo: Jacob Cordeiro/Twitter

An Amtrak train derailed near Joplin, Montana, resulting in at least three deaths and multiple injuries to passengers and crew on Saturday, per authorities and a company statement.

The big picture: 141 passengers and 16 crew members were estimated to be on the Empire Builder train, traveling from Chicago to Seattle and Portland, when eight of the 10 cars derailed about 4p.m., Amtrak said early Sunday.