Waymo is reportedly on the verge of finalizing a significant funding round of $16 billion, which could elevate the company's valuation to an impressive $110 billion, as highlighted by recent reports.
A substantial portion of this investment is expected to come from Alphabet, Waymo's parent company, reflecting the close ties between the two entities. Waymo originated from Alphabet's innovative "moonshot factory," known as X.
New investors such as Dragoneer, Sequoia Capital, and DST Global are anticipated to join the funding round, alongside existing supporters like Andreessen Horowitz and the Abu Dhabi sovereign fund Mubadala.
In a statement to TechCrunch, a Waymo representative emphasized the company's commitment to safety and technological advancement, noting their impressive milestone of over 20 million completed trips. They stated, "Our trajectory is clear: we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility."
Waymo's rapid expansion includes a recent service launch in Miami, although the growth journey has not been without challenges, such as incidents involving robotaxis becoming immobilized at traffic signals during power outages in San Francisco.
According to reports, Waymo generates over $350 million in annual recurring revenue. The company previously raised $5.6 billion in a Series C round in 2024, which set its valuation at $45 billion.