Waymo Targets $16B Funding Round at $110B Valuation for Robotaxi Fleet Expansion
Alphabet’s autonomous vehicle division, Waymo, is reportedly in talks to secure approximately $15–16 billion in a new funding round. This could potentially value the company at a staggering $110 billion, more than doubling its previous valuation of $45 billion in October 2024. The financing round is expected to be spearheaded by parent company Alphabet (GOOGL), with the possibility of external investors participating.
Waymo has successfully built an impressive annual revenue run rate exceeding $350 million. This success is largely attributed to the rapid expansion of its robotaxi operations. Currently, Waymo either operates, is in the process of launching, or is testing its autonomous vehicles in 26 markets across the U.S. and internationally. The new capital is intended to be used for expanding its robotaxi fleet, scaling operations across additional American cities, and pursuing selective international growth.
Alphabet CEO Sundar Pichai has previously stated that Waymo is expected to make a “meaningful” contribution to Alphabet’s financials as soon as 2027. Waymo’s previous funding round — a $5.6 billion Series C in 2024 — saw participation from major institutional investors such as Silver Lake, T. Rowe Price, and Fidelity. The latest funding round signals a surge in investor confidence, reinforcing Waymo’s position as the unquestioned leader in U.S. autonomous vehicle technology.
Source: CNBC – Alphabet-owned Waymo in talks to raise $15 billion in funding