US EditionRobotaxi pioneer Waymo gets $16 billion injection to accelerate its expansion plans
Waymo’s $16 billion funding round values the company at $126 billion and supports plans to expand robotaxi services from 6 to over 20 cities globally, including London and Tokyo.
- On Monday, Waymo raised $16 billion, which was led by Alphabet Inc, valuing the company at $126 billion to expand its robotaxi fleet.
- Investor demand grew as Waymo evolved from a Google 'moonshot' 17 years ago, with analysts valuing Waymo at about $30 billion five years ago.
- Waymo plans to use the cash to expand beyond the six metropolitan areas where its robotaxis already give rides and is gearing up to enter more than 20 other cities, including London and Tokyo, with more than 400,000 weekly rides.
- Regulators and communities flagged safety problems after incidents, including last year in San Francisco when a Waymo robotaxi killed a 9-year-old cat and stalled during a blackout.
- The funding raises IPO and spinoff questions for Waymo and Alphabet Inc, which has a nearly $4.2 trillion market value, and Waymo said in a blog post, `We are positioned to move forward with unprecedented velocity, while maintaining our industry-leading safety standards.
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Google's subsidiary, now valued at $126 billion, has relied on a multitude of investment funds, including Sequoia, Mubadala, a subsidiary of the sovereign wealth fund of Abu Dhabi, and Temasek, the Singapore sovereign wealth fund.
The Google sister Waymo is the leader in self-driving cars. But Elon Musk also wants to bring Tesla big into the Robotaxi business. Waymo gets money for more speed.
The Google sister Waymo is the leader in self-driving cars. But Elon Musk also wants to bring Tesla big into the Robotaxi business. Waymo gets money for more speed.
Associated Press News
Robotaxi pioneer Waymo gets $16 billion injection to accelerate its expansion plans
Robotaxi pioneer Waymo has raised another $16 billion to help fuel its ambition for its fleet of self-driving cars to provide rides throughout the world.
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