NEW YORK: Waymo, Alphabet Inc’s autonomous driving unit, is aiming to raise about US$16bil in a financing round that would value the unit at nearly US$110bil, according to people familiar with the matter.
The parent company would provide about US$13bil to the robotaxi firm, while the rest would come from others, including new investors Sequoia Capital, DST Global and Dragoneer Investment Group, said the people, who asked not to be identified because the discussions are private.
Mubadala Capital is also investing in the round, some of the people said.
Waymo could close the funding round in February, the people said.
The prior investment round, in October 2024, valued the company above US$45bil and was led by Alphabet, which also owns Google.
“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,” Waymo said in a statement.
Google could not immediately be reached for comment. Dragoneer, Sequoia and DST did not immediately respond to requests for comment. Mubadala declined to comment.
Waymo operates fully autonomous ridehailing, without a human safety monitor, and charges a fare for passengers in half a dozen US cities. That includes the San Francisco Bay area, Los Angeles and rides through Uber Technologies Inc’s app in Austin and Atlanta.
The startup plans to aggressively expand the commercial service this year to many more American cities, as well as to the United Kingdom. — Bloomberg
