Waymo Secures $16 Billion in Funding, Valued at $126 Billion
Waymo, a leader in autonomous driving, has secured $16 billion in fresh funding, valuing the company at a whopping $126 billion—nearly three times its most recent valuation of $45 billion in 2024. This significant investment will enable the company to accelerate its robotaxi expansion plans, solidifying its position in the autonomous mobility market. As stated by Waymo’s co-CEOs, Tekedra Mawakana and Dmitri Dolgov, “This infusion of capital will ensure we are positioned to move forward with unprecedented velocity.”
Waymo was spun out of Google in 2016 and now operates as a subsidiary of Google’s parent company, Alphabet. The latest funding round was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with participation from other prominent investors, including Andreessen Horowitz, T. Rowe Price, Kleiner Perkins, and GV. This investment demonstrates the confidence of the financial community in Waymo’s technology and its potential for growth.
Expansion Plans and Safety Record
Waymo is currently the only company operating robotaxis at scale on public roads in the U.S. and is rapidly expanding its services to new cities. The company’s service is available in Austin, Phoenix, Atlanta, Los Angeles, San Francisco, and recently added Miami as its sixth city. With over 400,000 weekly rides across these cities, Waymo has established itself as a leader in the autonomous mobility market. The company plans to integrate its technology into vehicles from Chinese EV brand Zeekr, Hyundai, and Toyota, further expanding its reach.
Regarding safety, Waymo’s co-CEOs emphasized the company’s “industry-leading safety standards.” According to internal data, Waymo cars have led to 90 percent fewer serious injury crashes than average human drivers over their 127 million miles of autonomous operation. However, the company has been involved in two fatal crashes, although its vehicles were not responsible in either case. Waymo is also being probed by the National Highway Traffic Safety Administration and the National Transportation Safety Board for a recent incident involving a struck child and a pattern of Waymo cars illegally passing stopped school buses.
The global robotaxi fleet is expected to surge to between 700,000 and 3 million vehicles over the next decade, according to an estimate by Boston Consulting Group. Robotaxis are expected to capture up to 85 percent of trips currently operated by traditional ride-hailing or taxi operations in large markets. As the market continues to grow, Waymo faces competition from Big Tech and startups, including Elon Musk’s Tesla and Amazon subsidiary Zoox.
Conclusion and Future Outlook
Waymo’s significant funding and valuation demonstrate its position as a leader in the autonomous mobility market. With its expansion plans and commitment to safety, the company is poised for continued growth and success. As stated by Mawakana and Dolgov, “This capital underscores that the age of autonomous mobility at scale has arrived, and Waymo is leading the way.” For more information on Waymo’s funding and expansion plans, visit Here.
Image Source: observer.com
