Waymo reportedly raising a $16B funding round

Waymo is on the verge of completing a substantial funding round, expected to raise $16 billion, which would elevate the valuation of the robotaxi firm to an impressive $110 billion, as reported by the Financial Times. A significant portion of this investment is anticipated to come from its parent company, Alphabet, which originally nurtured Waymo within its innovation-focused division, often referred to as the "moonshot factory." New investors such as Dragoneer, Sequoia Capital, and DST Global are set to join this funding initiative, alongside existing supporters like Andreessen Horowitz and the Abu Dhabi sovereign wealth fund, Mubadala. In a statement to TechCrunch, a spokesperson for Waymo noted, "While we don’t comment on private financial matters, our trajectory is clear: with over 20 million trips completed, we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility." The company is experiencing rapid expansion, highlighted by its recent service launch in Miami. However, this growth has not been without its hurdles; for instance, during a widespread blackout in San Francisco, a number of its robotaxis were reported to have stalled at traffic lights. According to the Financial Times, Waymo is generating over $350 million in annual recurring revenue. The latest funding round follows a previous $5.6 billion Series C round completed in 2024, which valued the company at $45 billion.