Waymo, the autonomous vehicle pioneer and Alphabet’s self-driving car subsidiary, is reportedly in advanced discussions to secure a substantial $15 billion funding round early in the new year. This significant capital infusion, potentially valuing the company at up to $110 billion, underscores Waymo’s commanding position in the burgeoning U.S. robotaxi market.
The move signals Waymo’s aggressive strategy to accelerate fleet expansion and service territory growth. The company is currently operating, planning launches, or testing its autonomous vehicles across 26 markets globally, demonstrating a clear ambition for widespread adoption. Alphabet CEO Sundar Pichai has indicated that Waymo is expected to become a “meaningful” contributor to the parent company’s financials as early as 2027, a projection that would mark a significant milestone for the ambitious venture.
Should Waymo successfully raise $15 billion, it would more than double the capital secured in its last funding round. In October 2024, the company closed a Series C round totaling $5.6 billion, with Alphabet committing $5 billion of a multi-year investment plan at a $45 billion valuation. That round saw participation from prominent investors including Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. At the time, Waymo co-CEOs Tekedra Mawakana and Dmitri Dolgov emphasized the funding’s role in expanding their robotaxi services.
Waymo’s current commercial operations offer paid rides to the public in key metropolitan areas such as Austin, the San Francisco Bay Area, Phoenix, Atlanta, and Los Angeles. Recent data indicates a strong upward trajectory for the company, with an estimated 450,000 weekly paid rides and over 20 million total trips projected by the end of 2025 since its initial launch in 2020.
Looking ahead, Waymo has ambitious expansion plans for 2026, targeting new markets including Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego, and Washington, D.C. Notably, the company also announced its intention to launch its first international service in London in 2026, marking a significant step in its global expansion strategy.
The competitive landscape is heating up, with rivals making notable progress. Amazon’s Zoox has begun offering free driverless rides in select areas of Las Vegas and San Francisco. Meanwhile, Tesla has launched its Robotaxi-branded service in Austin and the San Francisco Bay Area, though these operations still involve human drivers or safety supervisors.
These fundraising discussions were initially reported by The Information.
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