Waymo is close to closing a $16 billion funding round that would value the robotaxi company at $110 billion, the Financial Times reports.
More than three-quarters of the new capital will come from Alphabet, Waymo’s parent company, which incubated the firm in its X moonshot factory. New investors include Dragoneer, Sequoia Capital, and DST Global. Existing backers Andreessen Horowitz and Abu Dhabi’s Mubadala sovereign wealth fund are also joining the round.
A Waymo spokesperson told TechCrunch: “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 reports more than $350 million in annual recurring revenue. Waymo last raised $5.6 billion in a Series C round in 2024, which valued it at $45 billion.
Waymo has expanded rapidly, including a recent robotaxi service launch in Miami. It faced operational issues when several vehicles stalled at traffic lights during a widespread San Francisco blackout.
