Waymo
Assembly Line
Alphabet to invest $5B in Waymo, its self-driving vehicle unit
Google parent company Alphabet plans to invest $5 billion in Waymo, its unit for autonomous vehicles, over the next few years. Alphabet CTO Ruth Porat announced the news during the company’s quarterly financial results call.
Prior to this, Waymo raised $2.25 billion in its first external funding round in 2020. The company raised another $2.5 billion in 2021 in a round that included funding from Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company and more.
The new funding round will enable Waymo to continue to build the world’s leading autonomous driving company, he said.