Key Points:
- Waymo raised $16 billion, bringing its valuation to $126 billion. Alphabet led the funding round with other major investors.
- The company plans to expand to over 20 new cities, including London and Tokyo.
- Waymo currently completes more than 400,000 autonomous rides every week.
- Regulators are investigating safety incidents involving traffic jams and school buses.
Robotaxi leader Waymo just secured a massive $16 billion in fresh funding, pushing the company’s valuation to a staggering $126 billion. This new appraisal highlights just how much investors want a piece of the self-driving market, especially as Waymo races against rivals backed by Tesla and Amazon.
Alphabet, Google’s parent company, led the investment round alongside several top venture capital firms. It marks a long journey for a company that began as an experimental “moonshot” inside Google 17 years ago.
Just five years ago, analysts estimated the company was worth around $30 billion, showing just how fast its value has climbed. This jump has renewed rumors that Alphabet might eventually spin Waymo off as a separate public company.
Waymo plans to use this cash to expand aggressively. While its autonomous cars currently operate in six U.S. metro areas, including San Francisco, Phoenix, and Austin, the company wants to launch in more than 20 new cities soon. This expansion includes international targets like London and Tokyo. Currently, the service completes over 400,000 paid trips every week.
Despite the financial success, the road hasn’t been entirely smooth. Waymo faces ongoing scrutiny over safety and performance. Last year in San Francisco, one of its vehicles struck and killed a neighborhood cat, sparking local outrage. The fleet also caused gridlock during a citywide power outage when cars stalled at dark intersections. Additionally, federal regulators are investigating reports of erratic driving near school buses in Texas.
This funding arrives as competition heats up. Amazon-backed Zoox is expanding its presence in San Francisco, and Tesla CEO Elon Musk continues to push for his own robotaxi network across the United States. With a fresh war chest, Waymo aims to maintain its lead and move forward with “unprecedented velocity” while trying to keep its safety record clean.
