Alphabet’s Waymo has successfully raised $16 billion to accelerate the growth of its autonomous vehicle fleet, aiming to introduce driverless taxicabs in more than a dozen new cities worldwide, including London and Tokyo. This recent funding round, led by Dragoneer Investment Group, DST Global, and Sequoia Capital, has increased Waymo’s valuation to $126 billion. Alphabet continues to be the primary investor, supporting Waymo’s vision for global expansion.
Key investors such as Andreessen Horowitz, Mubadala Capital, and several others have also contributed significantly to this funding round. Waymo plans to utilize these funds to further enhance its services, following a successful year of growth. Recent milestones include offering rides to and from San Francisco International Airport, expanding the robotaxi service across Northern California, and extending operations to major U.S. cities like Los Angeles, Austin, and Miami.
Waymo’s journey from initial tests in Silicon Valley to launching a commercial robotaxi service in Phoenix demonstrates the company’s commitment to advancing autonomous driving technology. The recent permit to operate and charge for rides in California has marked a significant milestone, enabling Waymo to broaden its services in San Francisco, the Bay Area, and beyond.
Source: TechCrunch