Waymo reportedly raising a $16B funding round

Waymo is close to finalising a new $16 billion funding round that would value the robotaxi company at roughly $110 billion, according to a Financial Times report.

More than three-quarters of the new funding is expected to come from a familiar source: Alphabet, Waymo’s parent company. Waymo operates as a subsidiary of Alphabet and was initially developed inside the company’s “moonshot factory,” X.

The Financial Times reported that the round will also bring in several new outside investors, including Dragoneer, Sequoia Capital, and DST Global. Existing backers are also expected to participate, including Andreessen Horowitz and Abu Dhabi’s sovereign wealth fund, Mubadala.

When contacted for comment, a Waymo spokesperson declined to discuss the reported fundraising but eemphasisedthe company’s broader momentum. “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 spokesperson said in a statement.

Waymo has been rapidly expanding its robotaxi operations. Most recently, the company launched service in Miami as part of its broader push into new markets. That growth has not been without challenges. During a widespread power outage in San Francisco, several Waymo robotaxis were reported to have stalled at traffic lights, highlighting the operational hurdles that still accompany autonomous vehicle deployment.

According to the Financial Times, Waymo is now generating more than $350 million in annual recurring revenue. The company last raised capital in 2024, when it secured a $5.6 billion Series C round that valued the business at $45 billion.

If completed, the new funding round would represent a significant increase in valuation and underscore Alphabet’s continued commitment to autonomous driving, even as the sector faces intense scrutiny, high capital requirements, and ongoing technical challenges.