Waymo raises $2.5bn to develop its autonomous driving business
The June 2021 investment brought new capital from Alphabet and institutional and industry backers to advance the Waymo Driver.
Waymo announced a $2.5 billion investment round on June 16, 2021. Participants included Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, Temasek and Tiger Global. Funds and accounts advised by T. Rowe Price Associates also participated.
The company said the capital would support development and commercialization of the Waymo Driver and growth of its team. The round followed its first external fundraising in 2020, adding resources as it worked to extend autonomous driving beyond its initial deployments.
Use of funds
Develop Waymo Driver
Grow the team