Waymo is on the verge of wrapping up a new $16 billion funding round, which is expected to boost the company’s valuation to $110 billion, as reported by the Financial Times.
More than 75% of this funding is likely to come from a familiar source—Alphabet, Waymo’s parent company. (Waymo originally launched from Alphabet’s innovation lab, X.)
According to the FT, new investors joining this round include Dragoneer, Sequoia Capital, and DST Global, while established backers like Andreessen Horowitz and the Abu Dhabi sovereign fund Mubadala are also contributing.
When TechCrunch reached out, a company spokesperson stated, “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.”
Waymo is experiencing rapid expansion, recently launching services in Miami. This growth has not been without its hurdles, such as several robotaxis stalling at traffic lights during a significant blackout in San Francisco.
According to the FT, the company boasts over $350 million in annual recurring revenue. Waymo’s previous funding round was a $5.6 billion Series C in 2024, which valued the company at $45 billion.
