Waymo reportedly raising a $16B funding round

Waymo Nears $16 Billion Mega-Round, Rockets to $110 Billion Valuation in Autonomous Vehicle Race

In a move that could redefine the autonomous vehicle industry, Waymo is reportedly on the brink of securing a staggering $16 billion in fresh funding, catapulting the Alphabet-backed robotaxi pioneer to a jaw-dropping $110 billion valuation. This seismic development, first reported by the Financial Times, underscores the tech world’s unwavering belief in the future of self-driving cars—and Waymo’s commanding lead in the race.

The funding round, which is nearly finalized, will see Alphabet—Waymo’s parent company—contributing more than three-fourths of the capital. This deep-pocketed support from Alphabet, where Waymo was born as part of the company’s ambitious “moonshot factory” X, signals a long-term commitment to the autonomous vehicle revolution. But Waymo isn’t relying solely on its corporate parent. The company is also welcoming new heavyweight investors, including Dragoneer, Sequoia Capital, and DST Global, while existing backers like Andreessen Horowitz and Abu Dhabi’s sovereign wealth fund Mubadala are doubling down on their bets.

When reached for comment, a Waymo spokesperson told TechCrunch, “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.” This statement reflects Waymo’s laser focus on scaling its operations while maintaining its reputation for safety and innovation.

Waymo’s rapid expansion is nothing short of extraordinary. The company recently launched its robotaxi service in Miami, marking another milestone in its nationwide rollout. However, growth hasn’t come without its hiccups. In December, a widespread blackout in San Francisco left several Waymo vehicles stalled at traffic lights, highlighting the challenges of deploying autonomous technology in complex urban environments. Despite these setbacks, Waymo’s resilience and ability to adapt have only strengthened its position as the industry leader.

Financially, Waymo is firing on all cylinders. The company reportedly generates over $350 million in annual recurring revenue, a testament to the growing demand for its autonomous ride-hailing services. This latest funding round follows a $5.6 billion Series C in 2024, which valued Waymo at $45 billion. The fact that its valuation has more than doubled in less than a year speaks volumes about investor confidence and the transformative potential of autonomous vehicles.

The implications of this funding round extend far beyond Waymo. It’s a clear signal that the autonomous vehicle industry is entering a new phase of maturity, with major players like Waymo leading the charge. Competitors such as Tesla, Cruise, and Zoox will undoubtedly feel the pressure to accelerate their own efforts to keep pace. For consumers, this could mean faster deployment of self-driving cars, potentially revolutionizing urban mobility and reducing traffic accidents caused by human error.

As Waymo continues to push the boundaries of what’s possible with autonomous technology, one thing is certain: the future of transportation is being written today, and Waymo is holding the pen. With this latest funding, the company is not just poised to dominate the robotaxi market—it’s setting the stage for a driverless future that could reshape cities, economies, and lives around the world.

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