Waymo Nears Completion of $16 Billion Funding Round
According to a report by the Financial Times, Waymo, the leading robotaxi company, is on the verge of finalizing a new funding round amounting to $16 billion. This new funding round is expected to value Waymo at an impressive $110 billion.
Interestingly, a significant portion of this funding is said to be coming from Alphabet, Waymo’s parent company. Waymo was initially developed within Alphabet’s “moonshot factory” X, showcasing the close ties between the two entities.
The Financial Times also mentioned that new investors like Dragoneer, Sequoia Capital, and DST Global are joining the funding round, alongside existing supporters such as Andreessen Horowitz and Abu Dhabi sovereign fund Mubadala.
When JS reached out for comments, a Waymo spokesperson emphasized the company’s commitment to safety and operational excellence. With over 20 million trips completed, Waymo is dedicated to meeting the increasing demand for autonomous mobility.
Waymo’s recent expansion into Miami signifies its rapid growth in the autonomous vehicle market. However, this growth hasn’t been without challenges, as evidenced by some robotaxis experiencing issues at traffic lights during a blackout in San Francisco.
Reports suggest that Waymo is generating over $350 million in annual recurring revenue. The company previously raised $5.6 billion in a Series C funding round in 2024, valuing Waymo at $45 billion.