Waymo raises $16 billion to take its robotics business ‘global’

Waymo announced A $16 billion investment round aims to take its robotics business to more U.S. cities, as well as some overseas markets. The financing round was led by Dragoneer Investment Group. Crossover company. He is known for investing in new technology companies before they go public.

Waymo’s co-CEOs said in a blog post that they will use some of the money to purchase more vehicles to increase the size of its fleets, a crucial step as it seeks to launch in at least 20 new cities in 2026. The company currently operates more than 2,500 robotaxis in six U.S. cities. The new financing values ​​Waymo at $126 billion.

Waymo’s latest funding round attracted several new investors, including Dragoneer, Sequoia Capital, and DST Global. Returning investors include Andreessen Horowitz, Abu Dhabi sovereign fund Mubadala, Fidelity Management and Research, Berry Creek Capital, Silver Lake, Tiger Global, Temasek and T. Rowe Price. The company last raised $5.6 billion in 2024The company’s value is estimated at $45 billion.

Although they promise to reduce costs by eliminating driver jobs, self-driving ride-hailing vehicles are very expensive. In addition to purchasing vehicles, companies must install expensive sensors and computers in each vehicle. Robotaxis must be monitored by remote operators during trips. Fleet managers charge, clean, and calibrate sensors when the robotaxis are offline.

However, Waymo is one of the few companies offering fully self-driving vehicle-driven service in the United States. Amazon subsidiary Zoox is still offering free rides in a few cities, while Tesla has yet to transition from using in-car safety screens.