Categories: Technology

Waymo’s latest funding round boosts it to a $45B valuation

Waymo recently closed a $5.6 billion Series C funding round led by parent company Alphabet and joined by a who’s who of Silicon Valley venture firms. The investment boosts Waymo’s overall valuation to more than $45 billion, according to Bloomberg News.

Alphabet had previously announced in July that it was pledging another $5 billion to Waymo, but was mum on the specifics, saying only that it was a “multi-year” commitment. Andreessen Horowitz, Silver Lake, Fidelity, Tiger Global, Perry Creek, and T. Rowe Price all joined the round. Waymo declined to say how much each invested.

It’s Waymo’s second external fundraising round, and its first since a $2.25 billion Series B in 2020 that eventually grew to $3.2 billion. The autonomous vehicle company says it will use the funds to expand into new cities and further develop its autonomous capabilities for “business applications.”

Waymo is in some ways a much different company now than it was when it raised that last round. At that time, the company was still plowing headlong into an autonomous trucking effort that it has since pulled back from.

The company has instead put nearly its entire focus on its robotaxi ride-hailing service. The bet has paid off. Waymo now operates commercial robotaxi services in San Francisco, Los Angeles, and Phoenix, and is expanding to Austin and Atlanta. It’s giving paid rides to more than 100,000 customers per week across those first three markets and offering trips to and from the airport in Phoenix. And it’s operating on highways in the Phoenix and San Francisco areas.

This story has been updated to include Waymo’s new reported valuation following the announcement of the funding.

News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

2 weeks ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

2 weeks ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

2 weeks ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

2 weeks ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

2 weeks ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

2 weeks ago