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Waymo secures expanded partnership with Uber and $5.6 billion in new funding

Oct 25, 2024•over 1 year ago

Contract Type

partnership

Description

Waymo has closed an oversubscribed Series C funding round totaling $5.6 billion led by Alphabet Inc. [Google] and including investments from Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. The funds will be used to continue the development of Waymo Driver, its AI-powered autonomous driving system, and to expand its Waymo-One rideshare services to new cities like Austin, Texas, and Atlanta, Georgia, through a partnership with Uber.

Company Information

Company

Waymo

About

The funds from the round, which included more than 10 participants, will be used for advancing Waymo Driver, the company's autonomous driving technology, and to grow Waymo's team, the company said. According to investor website PitchBook, the company is valued at just over $30 billion. Waymo is the first to self-operate a fully autonomous, public ride-hailing service, Waymo One.

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