Waymo has raised another big chunk of change from investors. Company it secured an “oversubscribed investment round” of US$5.6 billion, the largest of which came from Google’s parent company, Alphabet.
The company is working with Uber to expand early next year. Waymo said it plans to use this latest infusion of capital for expansions. This latest round brings Waymo’s total capital raising to $11.1 billion, on top of the $5.5 billion raised in the previous two rounds. and .
Waymo currently operates outside transportation service for Sky Harbor International Airport through its Waymo One driving system for businesses in San Francisco, Los Angeles and Phoenix. The company also announced that it has begun offering “fully autonomous freeway operations in Phoenix and San Francisco.”
The new funding will also help Waymo develop Waymo One, an autonomous driving system that can be adapted for a variety of businesses. Waymo wrote on its blog that it plans to “support a variety of business applications over time” through Waymo One.
The alphabet went up in July as part of what Alphabet Chief Financial Officer Ruth Porat called a “multi-year investment.” The fleet of driverless vehicles marked the total It beat the likes of Uber in July before joining forces with Waymo four years ago.
