Waymo has almost completed a new round of financing of $16 billion that will value the robotaxi company at $110 billion, according to the Financial Times.
More than three-quarters of that funding will reportedly come from a source close to home: Alphabet, of which Waymo is a subsidiary. (The company was founded as part of Alphabet’s “moonshot factory” X.)
The FT reports that Waymo is attracting new investors Dragoneer, Sequoia Capital and DST Global, while existing backers Andreessen Horowitz and Abu Dhabi sovereign wealth fund Mubadala are also participating in the round.
When contacted by TechCrunch, a company spokesperson said in a statement: “While we do not comment on private financial matters, our trajectory is clear: with more than 20 million trips completed, we are focused on the safety-focused operational excellence and technology leadership needed to meet the massive demand for autonomous mobility.”
The company is expanding rapidly, including a recent launch in Miami. That growth came with a number of challenges, including a number of robotaxis stopped at traffic lights during a widespread power outage in San Francisco.
Waymo has more than $350 million in annual recurring revenue, according to the FT. The company last raised a $5.6 billion Series C in 2024, valuing the company at $45 billion.
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