Waymo Secures $16B to Expand Global Robotaxi Fleet
Waymo, the autonomous vehicle division of Alphabet, has successfully secured $16 billion to expand its global robotaxi fleet. This funding aims to increase its presence in over a dozen new international cities, including notable locations such as London and Tokyo.
Funding Round and Valuation
The funding round was led by prominent investors, including Dragoneer Investment Group, DST Global, and Sequoia Capital. As a result of this investment, Waymo’s value has surged to $126 billion. Alphabet, Waymo’s parent company, continues to hold a majority stake in the firm.
Additional Investors
Other significant contributors to this funding include:
- Andreessen Horowitz
- Mubadala Capital
- Bessemer Venture Partners
- Silver Lake
- Tiger Global
- T. Rowe Price
- BDT & MSD Partners
- CapitalG
- Fidelity Management & Research Company
- GV
- Kleiner Perkins
- Perry Creek Capital
- Temasek
Growth and Expansion Plans
Waymo plans to use the new funds to accelerate its growth. The company recently began offering rides to and from San Francisco International Airport, and it has expanded its services throughout Northern California. Cities in focus include Los Angeles, Austin, and Miami.
History and Progress
Initially, Waymo, formerly the Google self-driving project, focused on testing its autonomous technology in Silicon Valley and the Bay Area. In 2016, it began testing in Phoenix, eliminating the human driver and effectively establishing its first market for driverless rides using Chrysler Pacifica minivans.
Service Expansion
In August 2023, Waymo received the final permit required to operate a commercial robotaxi service in California. This development allowed for charging rides in San Francisco and a broader operational footprint across the greater Bay Area and Los Angeles. By 2025, Waymo expects to reach Austin and Atlanta through a partnership with Uber and has recently established operations in Miami.
Service Metrics
The surge in service availability has resulted in notable riding statistics:
- 400,000 rides are provided weekly across six major U.S. cities.
- In 2025, Waymo is projected to exceed 15 million annual rides, more than tripling its volume.
- Lifetime rides are anticipated to surpass 20 million.
Future Plans and Challenges
Waymo’s ambition does not stop here. The company aims to launch operations in over 20 additional cities in 2026, with Tokyo and London among the targets. However, this rapid expansion has invited scrutiny, facing criticism regarding the safety of its robotaxis, particularly in school zones.
Investigations and Safety Concerns
Investigations by the National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) have been initiated due to incidents involving Waymo’s robotaxis and school buses. Recently, a Waymo vehicle struck a child, resulting in minor injuries, raising further concerns about the technology’s safety performance.
