Waymo, Alphabet Inc.’s self-driving car company, raised $16 billion this year, aiming to expand its fleet of driverless taxis to 12 new cities globally, including London and Tokyo. The funding round, led by Dragoneer Investment Group, DST Global, and Sequoia Capital, valued Waymo at $126 billion, with Alphabet remaining the majority investor.
Other notable investors included Andreessen Horowitz, Mubadala Capital, and several venture firms such as Bessemer and Silver Lake. The capital will support Waymo’s growth, which has been accelerating, particularly after securing transportation services at San Francisco International Airport and expanding its robo-taxi services in major U.S. areas like Los Angeles and Miami.
Waymo’s technology has evolved over the years, growing from testing in Silicon Valley to launching public services in Phoenix, the company’s first robotaxi market, and recently expanding throughout the Bay Area and beyond. The company currently offers 400,000 rides weekly and expects to triple annual rides by 2025.
However, the rapid expansion has attracted scrutiny, particularly regarding safety concerns as some robotaxis have exhibited dangerous behavior, prompting investigations by the National Highway Traffic Safety Administration (NHTSA) following incidents near schools, including a recent minor injury to a child.
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