"Robotaxi pioneer Waymo has raised another $16 billion to help fuel its ambition for its fleet of self-driving cars to provide rides throughout the world while other deep-pocketed rival services backed by Tesla and Amazon try to catch up. The fundraising announced Monday values Waymo at $126 billion. The appraisal underscores investors' desire to own a piece of the rapidly expanding robotaxi market, as well as how far Waymo has come since starting as a "moonshot" project within Google 17 years ago."
"In a blog post, Waymo said it plans to use the the money to extend its reach beyond the six metropolitan areas where its robotaxis already give rides in California, Arizona, Georgia, Texas and Florida. It's gearing up to enter more than 20 other cities, including London and Tokyo. Waymo's robotaxis already provide more than 400,000 weekly rides. "We are positioned to move forward with unprecedented velocity, while maintaining our industry-leading safety standards," Waymo said in the post."
Waymo secured $16 billion in new financing, bringing its valuation to $126 billion and reflecting strong investor appetite for robotaxi ventures. Alphabet led the round alongside major venture capitalists and funds. Waymo operates robotaxis in six U.S. metropolitan areas and plans expansion into more than 20 additional cities, including London and Tokyo, aiming to scale service beyond 400,000 weekly rides. Competition includes services backed by Tesla and Amazon. The fleet has a largely clean driving record but has experienced incidents, such as a vehicle killing a neighborhood cat and stalls during a power outage, prompting regulatory scrutiny.
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