Waymo has closed a $5.6 billion Collection C funding spherical led by father or mother firm Alphabet and joined by a whoβs who of Silicon Valley enterprise companies.
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 βmulti-yearβ dedication. Andreesen Horowitz, Silver Lake, Constancy, Tiger International, Perry Creek, and T. Rowe Value all joined the spherical. Waymo declined to say how a lot every invested.
Itβs Waymoβs second exterior fundraising spherical, and its first since a $2.25 billion Collection B in 2020 that ultimately grew to $3.2 billion. The autonomous automobile firm says it’ll use the funds to increase into new cities and additional develop its autonomous capabilities for βenterprise functions.β
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 practically its complete give attention to 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. Itβs 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 itβs working on highways within the Phoenix and San Francisco areas.