Waymo, a leading autonomous driving company, has announced that it has closed an oversubscribed investment round of $5.6 billion, led by Alphabet. This significant investment will enable Waymo to continue expanding its ride-hailing service and advancing its AI-powered autonomous driving system, the Waymo Driver.

With this funding, Waymo plans to welcome more riders into its services in San Francisco, Phoenix, Los Angeles, Austin, and Atlanta, and to further develop the Waymo Driver for various business applications. The company has already made significant progress, providing over 100,000 paid weekly trips and expanding its freeway operations in Phoenix and San Francisco.

The investment round was supported by several prominent investors, including Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. Industry experts have praised Waymo's proven track record of fostering rider loyalty, securing key partnerships, and collaborating with automotive industry leaders.

Source: https://waymo.com/blog/2024/10/investing-to-bring-the-waymo-driver-to-more-riders/