Waymo raises $16B to expand robotaxi service internationally
What's the story
Waymo, the self-driving car company owned by Alphabet, has raised a whopping $16 billion in funding. The investment round was led by Dragoneer Investment Group, DST Global and Sequoia Capital. The fresh capital infusion will help Waymo expand its fleet of autonomous taxis to over a dozen new cities this year, including international destinations like London and Tokyo.
Investment impact
Waymo's valuation soars to $126 billion
The latest funding round has pushed Waymo's valuation to an impressive $126 billion. Alphabet, the parent company of Waymo, participated in this round and remains the majority shareholder. Other major investors include Andreessen Horowitz and Mubadala Capital. Bessemer Venture Partners, Silver Lake, Tiger Global, T. Rowe Price also made significant contributions along with BDT & MSD Partners, CapitalG, Fidelity Management & Research Company, GV, Kleiner Perkins, Perry Creek Capital, and Temasek.
Future prospects
Funding to accelerate Waymo's growth
Waymo plans to use the funds to fuel its rapid growth. The company has already expanded its robotaxi service across Northern California and several major US metropolitan areas including Los Angeles, Austin, Miami. In 2016, Waymo became the first company to offer a public robotaxi service without a safety driver in Phoenix. It later expanded this service to San Francisco Bay Area after receiving regulatory approval in August 2023.
Service coverage
Robotaxi rides surge in 2025
Waymo's robotaxi service now operates in six major US metropolitan areas, providing an average of 400,000 rides per week. The company has tripled its annual volume to 15 million rides in 2025 alone. "We are no longer proving a concept," Waymo said in a blog post. "We are scaling a commercial reality, laying the groundwork for ride-hailing operations in over 20 additional cities in 2026."
Regulatory challenges
Regulatory scrutiny over incidents involving robotaxis
Waymo's rapid expansion has also drawn criticism and regulatory scrutiny. Some of its robotaxis have been involved in dangerous incidents, especially around school zones. The National Highway Traffic Safety Administration (NHTSA) and the National Transportation Safety Board (NTSB) are investigating these incidents. Last week, a Waymo robotaxi hit a child near a school at about 10km/h, causing minor injuries.