Waymo Nears $16 Bn Funding Round, Valuation Seen at $110 Bn
More than three-quarters of the new capital is expected to come from Alphabet, Waymo’s parent company.
Waymo is close to finalising a new $16 billion funding round that would value the autonomous driving company at about $110 billion, according to the Financial Times. The round would mark a sharp jump from Waymo’s last valuation and underscore growing investor confidence in robotaxi services.
More than three-quarters of the new capital is expected to come from Alphabet, Waymo’s parent company. Waymo originated inside Alphabet’s “moonshot factory” X before being spun out as a standalone unit.
The Financial Times also reported that new investors Dragoneer, Sequoia Capital and DST Global are joining the round, alongside existing backers Andreessen Horowitz and Abu Dhabi sovereign wealth fund Mubadala.
Asked about the report, a Waymo spokesperson declined to comment on financial details but said the company’s progress speaks for itself. “With over 20 million trips completed, we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility,” the spokesperson said.
Waymo has been rapidly expanding its robotaxi operations, most recently launching services in Miami. The company is also testing its cars on the streets of London, as it looks to move beyond the US market.
Waymo now generates more than $350 million in annual recurring revenue. The company last raised $5.6 billion in a Series C round in 2024, when it was valued at $45 billion, making the new funding a significant step up in both scale and ambition.
Mid last year, the company reached a monumental milestone—100 million miles driven autonomously on public roads, equivalent to more than 200 round-trips to the Moon.
