Alphabet’s autonomous driving division, Waymo, has secured a substantial $16 billion in funding, propelling its post-money valuation to $126 billion. This significant capital infusion underscores Alphabet’s commitment to Waymo’s ambitious expansion strategy across a growing network of markets.
This latest funding round represents a dramatic increase from Waymo’s previous Series C funding in October 2024, where it raised $5.6 billion at a $45 billion valuation. At that time, Alphabet itself committed $5 billion as part of a multi-year investment.
Waymo’s co-CEOs, Tekedra Mawakana and Dmitri Dolgov, highlighted in a recent blog post that this milestone is built upon a “foundation of safety that is now statistically superior to human driving.” They emphasized that the company is no longer in a conceptual phase but is actively scaling a “commercial reality.”
The funding round was spearheaded by Alphabet, with participation from a robust cohort of existing investors including Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. The influx of capital also welcomed new strategic investors such as Dragoneer Investment Group, DST Global, Sequoia Capital, Kleiner Perkins, and Alphabet’s own investment arm, GV. Alphabet remains the controlling investor in this significant round.
Waymo states that this new capital will accelerate its progress “with unprecedented velocity, while maintaining our industry-leading safety standards.” The company’s strategic focus is now set on achieving “global scale,” aiming to introduce the Waymo Driver’s safety and capabilities to more cities within the United States and internationally this year.
Previous reports indicated Waymo was in discussions to raise at least $15 billion at a valuation of $110 billion, suggesting the final figures reflect strong investor confidence and potentially a more robust growth outlook.
Currently, Waymo’s robotaxi service is operational in Austin, the San Francisco Bay Area, Phoenix, Atlanta, Los Angeles, and Miami. The company reported a total of 15 million trips completed in 2025.
Looking ahead to 2026, Waymo has ambitious expansion plans, with new service launches slated for Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego, and Washington D.C. Internationally, London is set to become Waymo’s first overseas market.
However, this rapid expansion is not without its challenges. In December, Waymo initiated a software recall following reports from Texas officials regarding robotaxis illegally passing school buses on at least 19 occasions. More recently, an incident in Santa Monica, California, where a Waymo vehicle struck a child near an elementary school, is currently under investigation by the National Highway Traffic Safety Administration. These events highlight the critical need for continued rigorous safety protocols and public trust-building as autonomous vehicle technology matures and scales.
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