Waymo Drives an Additional $750 million in Funding
Alphabet’s (NASDAQ: GOOGL)(NASDAQ: GOOG) self-driving vehicle business, Waymo, took a step to bolster its liquidity by raising an additional $750 million as an extension of its first external investment round of $2.25 billion, for a total of $3 billion. The additional funding will enable the company to continue investing in its workforce, technology, and innovation, and weather the economic slowdown driven by COVID-19. “Waymo is the proven leader in self-driving technology, is the only autonomous vehicle company with a public ride-hailing service, and is successfully scaling its fully driverless experience,” said Egon Durban, Co-CEO of Silver Lake and nominee for Waymo’s Operating Board, in a press release.
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