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Waymo Raises $5.6 Billion to Expand Robotaxi Services to Austin and Atlanta

Oct 25, 2024, 02:55 PM

Waymo, Alphabet's self-driving unit, has closed a $5.6 billion funding round led by Alphabet, with participation from investors including Fidelity, Andreessen Horowitz, Silver Lake, Tiger Global, and T. Rowe Price. This brings Waymo's total funding to $11.1 billion. The funding will support the expansion of Waymo's autonomous ride-hailing service, which operates in San Francisco, Los Angeles, and Phoenix, and plans to launch in Austin and Atlanta through its Uber partnership. Waymo provides 100,000 robotaxi trips per week, a tenfold increase from last year, and its fleet has driven 25 million rider-only miles without a human driver, including over 17 million miles in Phoenix, over 7 million in San Francisco, and over 1 million in Los Angeles.