Waymo, Alphabet's leading autonomous vehicle company, is reportedly nearing completion of a new $16 billion funding round that will elevate its valuation to an impressive $110 billion. This significant financial boost comes as the robotaxi pioneer continues to expand its operations, according to a report by the Financial Times.
A substantial portion of this funding, reportedly more than three-fourths, is expected to come from Waymo's parent company, Alphabet. Waymo originally began as a project within Alphabet's "moonshot factory" X, highlighting the tech giant's continued commitment to the self-driving sector.
The FT also indicates that several new investors are joining the round, including prominent firms like Dragoneer, Sequoia Capital, and DST Global. Existing backers Andreessen Horowitz and Abu Dhabi sovereign fund Mubadala are also said to be participating, signaling strong confidence in Waymo's future trajectory.
When contacted for comment, a Waymo spokesperson provided a statement to 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.”
The company has been rapidly expanding its services, including a recent launch in Miami. However, this growth has not been without its challenges. Waymo faced scrutiny when a number of its robotaxis stalled at traffic lights during a widespread power outage in San Francisco, prompting questions about autonomous vehicle resilience.
Financially, Waymo boasts more than $350 million in annual recurring revenue, according to the Financial Times. The company's last major funding round was a $5.6 billion Series C in 2024, which valued the company at $45 billion. The reported new valuation of $110 billion represents a significant leap, underscoring the escalating investor interest in the autonomous mobility market.
