Waymo’s first external financing reaches $3.2bn across its closes
The 2020 round began with $2.25bn in March and expanded through subsequent closes, adding outside financial and industry backers.
Waymo’s first external financing reached a cumulative $3.2 billion, according to an issuer update dated July 30, 2020. The round began with a $2.25 billion close on March 2 and expanded to $3 billion in May before the later update.
Silver Lake, Canada Pension Plan Investment Board and Mubadala Investment Company led the initial close. Other participants included Alphabet, Magna International, Andreessen Horowitz and AutoNation; the extension brought in Perry Creek Capital, Fidelity and funds and accounts advised by T. Rowe Price Associates.
Waymo said the financing would support its people, autonomous driving technology, ride-hailing and goods-delivery operations. It marked the company’s first external investment round as it broadened its investor base beyond Alphabet.
Use of funds
Develop Waymo Driver
Expand ride-hailing and delivery operations
Grow the team