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Zoox vehicle in San Francisco. Photo by Andreas Hoenig/dpa via Getty Images

Self-driving startup Zoox has raised $200 million in new convertible note funding, which will be folded into a Series C round that's expected to close later this year or at the beginning of 2020.

Why it matters: Zoox is more ambitious than most other autonomous tech startups, seeking to develop the entire car instead of just the software or sensors.

  • This is the first new investment in Zoox since it fired co-founder and CEO Tim Kentley-Klay.
  • No word yet on specific investors, except that the $200 million comes from a mix of new and existing backers.
  • The company previously raised a $465 million Series B round at a $3.2 billion post-money valuation.

Editor's note: This story has been corrected to show that Zoox raised $465 million in Series B funding.

Go deeper

Updated 28 mins ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

44 mins ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.