Waymo just lately closed a $5.6 billion Sequence C funding spherical led by guardian firm Alphabet and joined by a who’s who of Silicon Valley enterprise corporations. The funding boosts Waymo’s total valuation to greater than $45 billion, in accordance with Bloomberg Information.
Alphabet had beforehand introduced in July that it was pledging one other $5 billion to Waymo, however was mum on the specifics, saying solely that it was a “multi-year” dedication. Andreesen Horowitz, Silver Lake, Constancy, Tiger World, Perry Creek, and T. Rowe Value all joined the spherical. Waymo declined to say how a lot every invested.
It’s Waymo’s second exterior fundraising spherical, and its first since a $2.25 billion Sequence B in 2020 that finally grew to $3.2 billion. The autonomous car firm says it is going to use the funds to increase into new cities and additional develop its autonomous capabilities for “enterprise purposes.”
Waymo is in some methods a a lot completely different firm now than it was when it raised that final spherical. At the moment, the corporate was nonetheless plowing headlong into an autonomous trucking effort that it has since pulled again from.
The corporate has as a substitute put almost its total concentrate on its robotaxi ride-hailing service. The wager has paid off. Waymo now operates business robotaxi companies in San Francisco, Los Angeles, Phoenix, and is increasing to Austin and Atlanta. It’s giving paid rides to greater than 100,000 clients per week throughout these first three markets and providing journeys to and from the airport in Phoenix. And it’s working on highways within the Phoenix and San Francisco areas.
This story has been up to date to incorporate Waymo’s new reported valuation following the announcement of the funding.
