Waymo has nearly finalized a new $16 billion funding round that will value the robotaxi company at $110 billion, according to the Financial Times.
More than three-fourths of that funding will reportedly come from a source close to home — Alphabet, where Waymo is a subsidiary. (The company was incubated as part of Alphabet’s “moonshot factory” X.)
The FT reports that Waymo is bringing on new investors Dragoneer, Sequoia Capital, and DST Global, with existing backers Andreessen Horowitz and Abu Dhabi sovereign fund Mubadala also participating in the round.
The company is expanding quickly, including with a recent launch in Miami. That growth has come with some challenges, including a number of robotaxis that stalled at traffic lights during a widespread San Francisco blackout.
Waymo has more than $350 million in annual recurring revenue and expects to host more than 1 million rides per week this year, according to the FT. The company last raised a $5.6 billion Series C in 2024, valuing the company at $45 billion.
TechCrunch has reached out to Waymo for comment.
