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.

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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.

Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:15 a.m. ET: 30,539,903 — Total deaths: 952,629— Total recoveries: 20,800,482Map.
  2. U.S.: Total confirmed cases as of 8:15 a.m. ET: 6,726,353 — Total deaths: 198,603 — Total recoveries: 2,556,465 — Total tests: 92,163,649Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19 — Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
Bryan Walsh, author of Future
2 hours ago - Health

The dwindling chances of eliminating COVID-19

Illustration: Eniola Odetunde/Axios

As the coronavirus pandemic drags into its seventh month, it remains an open debate whether the U.S. should aim for the elimination of COVID-19 — and whether we even can at this point.

Why it matters: This is the question underlying all of the political and medical battles over COVID-19. As both the direct effects of the pandemic and the indirect burden of the response continue to add up, we risk ending up with the worst of both worlds if we fail to commit to a course.