Waymo is close to closing a new $16 billion funding round that would value the robotaxi company at $110 billion, according to the Financial Times.
It is reported that more than three-quarters of the funds will come from Alphabet, of which Waymo is a subsidiary. (The company was incubated as part of Alphabet’s ‘moonshot factory’ X.)
The FT reported that Waymo is bringing on 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 personal finance matters, our trajectory is clear: We have completed more than 20 million trips and 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. This growth has come with some challenges, including a number of robotaxi stuck at traffic lights during a major power outage in San Francisco.
According to the FT, Waymo’s annual recurring revenue is more than $350 million. The company last raised a $5.6 billion Series C investment in 2024, valuing the company at $45 billion.
