Waymo has nearly finalized a $16 billion funding round that values the robotaxi company at $110 billion, with more than three-quarters of the funding from parent company Alphabet, according to the Financial Times.
Waymo operates as a subsidiary of Alphabet, where the company originated through incubation in Alphabet’s X moonshot factory. The funding round includes participation from new investors Dragoneer, Sequoia Capital, and DST Global. Existing backers Andreessen Horowitz and the Abu Dhabi sovereign fund Mubadala are also joining the round.
A Waymo spokesperson, when contacted by TechCrunch, provided a statement: “While we don’t comment on private financial matters, our trajectory is clear: 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 company continues to expand its operations, marked by a recent service launch in Miami. This growth occurs alongside operational challenges, such as multiple robotaxis stalling at traffic lights during a widespread blackout in San Francisco.
Waymo generates more than $350 million in annual recurring revenue, as reported by the Financial Times. The company previously raised $5.6 billion in a Series C round in 2024, which established its valuation at $45 billion.
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