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Waymo Secures Oversubscribed $5.6 Billion Funding Round, Totaling $11.1 Billion, to Expand Robotaxi Services

Oct 25, 2024, 02:06 PM

Waymo, Alphabet Inc.'s autonomous driving unit, has closed an oversubscribed $5.6 billion funding round, marking its largest-ever investment to date and bringing its total funding to $11.1 billion. Led by Alphabet with participation from venture capital firms like Andreessen Horowitz and investment groups such as Silver Lake, the funds will fuel the expansion of Waymo's robotaxi services and advance its AI-powered Waymo Driver platform. Currently delivering 100,000 robotaxi trips per week—a tenfold increase from last year—Waymo plans to extend its autonomous ride-hailing operations beyond San Francisco, Phoenix, and Los Angeles to new cities, including Austin and Atlanta through its partnership with Uber. The funding comes as the robotaxi race heats up in the United States, with Waymo preparing to launch its service in additional cities in 2025.