- May 19, 2017
Alphabet, parent to Google, announced that its self-driving car company Waymo has raised a $2.5 billion round of funding.
The round included participation from Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, funds and accounts advised by T. Rowe Price Associates, Inc., Temasek, and Tiger Global.
Waymo raised last year a total of $3.2 billion, which included its first round of outside funding. The company was previously funded by Alphabet alone.
“With tens of millions of miles driven on public roads across 25 U.S. cities, and tens of billions of miles driven in simulation, our experience has shown us, and our investors, the massive opportunity ahead,” the company said in a blog post. “We’re...