Google’s self-driving car project Waymo raises $2.5 billion

Mountain View-based self-driving car company Waymo has raised $2.5 billion from Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, funds and accounts advised by T. Rowe Price Associates, Inc., Temasek, and Tiger Global.

Established in 2009, Waymo is the only autonomous vehicle company with public ride-hailing service. Its Waymo Driver, which has driven more than 20 million miles on public roads across over 25 cities, is now deployed across a variety of vehicle platforms and business applications, including Waymo Via that transports goods from point A to point B.

“We’re the first company to operate a fully autonomous, public ride-hailing service – Waymo One, and we’ve served thousands of rider-only trips in Metro Phoenix. We’ve been driving in San Francisco and the Bay Area since we first started in 2009, and most recently San Francisco residents are seeing the Waymo Driver on our growing fleet of all-electric Jaguar I-PACE vehicles throughout the city. We’re building the most advanced technology stack for urban driving, and we’re partnering with key community organizations as we shape our product.”

The company will use this latest round of investment to continue advancing the Waymo Driver, as well as continuing to grow its team.