Waymo has nearly completed a new $16 billion funding round that values the robotaxi company at $110 billion, according to the Financial Times.
More than three-quarters of that funding will reportedly come from a familiar source: Alphabet, of which Waymo is a subsidiary. (The company was founded as part of Alphabet’s “Moonshot Factory” X.)
As reported by FT, Waymo has welcomed new investors Dragoneer, Sequoia Capital and DST Global, with existing backers Andreessen Horowitz and Abu Dhabi sovereign wealth fund Mubadala also participating in the round.
In response to an inquiry from TechCrunch, a company spokesperson said in a statement: “While we do not comment on private financial matters, it is clear that we have completed more than 20 million trips and are committed to the safety-focused operational excellence and technical leadership needed to meet the tremendous demand for self-driving mobility.”
The company is expanding rapidly, recently opening operations in Miami. That growth has also come with some challenges, including many robotaxis stopping at traffic lights during San Francisco’s massive power outage.
Waymo has annual recurring revenue of more than $350 million, according to FT. The company last raised $5.6 billion in Series C in 2024, giving it a valuation of $45 billion.
