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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.

Updated 1 min ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — Biden plans to ask public to wear masks for first 100 days in office.
  2. Health: Coronavirus death rates rising across the country — Study: Increased COVID-19 testing can reduce transmission — Hospitalizations top 100,000 for the first time.
  3. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  4. Vaccine: What COVID-19 vaccine trials still need to do — Obama, Bush and Clinton willing to take vaccine in public —WSJ: Pfizer expects to ship half as many COVID vaccines as planned in 2020.
1 hour ago - Economy & Business

Clean trucks are paving the road to the electric vehicle era

Illustration: Eniola Odetunde/Axios

The electric vehicle revolution is underway, led by the un-sexiest of plug-in models: the commercial truck.

Why it matters: Growing demand for cleaner trucks means 2021 will be a pivotal year for electric vehicles — just not the kind you might have expected.