Waymo seeks $16bn funding round at near $110bn valuation

Waymo is seeking to raise about $16 billion in a new financing round that would value the business at close to $110 billion, underlining Alphabet’s continued commitment to autonomous vehicles despite mounting regulatory pressure.

According to reports, Waymo’s parent Alphabet plans to provide roughly $13 billion of the capital itself, with the remainder expected from external investors.

Those investors are said to include Sequoia Capital, DST Global and Dragoneer Investment Group.

Waymo declined to comment on private fundraising discussions, but said its focus remained on safety-led operations and technological leadership as demand for autonomous mobility grows.

The talks follow a report in December that Waymo was seeking funding at a valuation of at least $100 billion, highlighting investor confidence in its commercial prospects.

Founded in 2016 from Google’s self-driving car programme, Waymo operates the only paid robotaxi service in the US without safety drivers and runs a fleet of more than 2,500 vehicles.

However, the fundraising effort comes as the company faces scrutiny after a Waymo vehicle struck a child in Santa Monica last week, causing minor injuries.

Another incident in Los Angeles involving a Waymo robotaxi built with Zeekr has further intensified attention from the National Highway Traffic Safety Administration.

Investors have warned that tougher oversight could have implications across the sector, including for Tesla.

Despite the setbacks, Waymo continues to expand, including recent robotaxi testing in London as part of its European ambitions.