Bloomberg News reported on Saturday that the Alphabet unit Waymo is seeking approximately $16 billion in a funding round valuing it at $110 billion.
The report stated that Alphabet would offer approximately 13 billion to the autonomous driving company, with the remaining part to be offered by investors such as Sequoia Capital, DST Global, and Dragoneer Investment Group.
Waymo said in a statement to Reuters, “While we don’t comment on private financial matters, we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility.”
Therefore, Alphabet did not immediately respond to a request for comment. The Information reported last December that Waymo was negotiating to raise capital with a valuation of at least $100 billion.
Waymo, which Alphabet carved out of Google’s self-driving car project in 2016, is the only operator in the U.S. offering paid robotaxi services with no safety drivers or in-vehicle attendants. It has a fleet of more than 2,500 vehicles.
This action highlights the growing pace of developing completely autonomous vehicles, with major participants spending enormous sums and prioritizing safety, technology development, and regulatory collaboration to gain market share.
The United States’ auto safety agency stated on Thursday that it has opened a probe following a Waymo self-driving vehicle that struck a child near an elementary school in Santa Monica, California, in the previous week, causing minor injuries and renewing concerns about the safety of robotaxis.
