Waymo Closes Oversubscribed $5.6 Billion Funding Round to Expand Robotaxi Service to Austin and Atlanta

Oct 25, 2024, 02:45 PM

Waymo, Alphabet Inc.'s autonomous driving unit, has successfully closed an oversubscribed $5.6 billion funding round. This investment round, led by Alphabet and including participation from venture capital firm Andreessen Horowitz, Fidelity, Silver Lake, and Tiger Global, brings Waymo's total funding to $11.1 billion. The funds will be used to expand Waymo's robotaxi service beyond its current operations in San Francisco, Phoenix, and Los Angeles, with plans to launch in new cities such as Austin and Atlanta. Waymo's robotaxi service is currently delivering 100,000 trips per week, a tenfold increase from last year. The company aims to bolster its AI-powered Waymo Driver platform and enhance its partnership with Uber to scale its services further.