Alphabet's self-driving technology unit Waymo has raised $5.6 billion in new funding to accelerate its robotaxi expansion across American cities. The investment round, led by parent company Alphabet, includes backing from major investors like Andreessen Horowitz, Silver Lake, and Fidelity.
The funding comes as Waymo's ride-hailing service gains significant traction. You can now catch a Waymo robotaxi in San Francisco, Phoenix, and Los Angeles, with rides reaching over 100,000 trips weekly – ten times more than last year. The company plans to launch in Austin and Atlanta next year through its partnership with Uber.
Waymo has emerged as the clear leader in autonomous ride-hailing in the United States, especially after rival Cruise suspended operations following a safety incident last October. The company now offers fully autonomous rides on highways in Phoenix and San Francisco, and even provides airport service at Phoenix's Sky Harbor International.
"Customers love Waymo," says Tiger Global founder Chase Coleman. "The company has built the safest product in the autonomous vehicle ecosystem as well as the best."
To support its growth, Waymo recently introduced its sixth-generation self-driving system, designed to be more cost-effective while improving capabilities.
With 13 cameras, 4 lidar, 6 radar, and an array of external audio receivers (EARs), our new sensor suite is optimized for greater performance at a significantly reduced cost, without compromising safety. It provides the Waymo Driver with overlapping fields of view, all around the vehicle, up to 500 meters away, day and night, and in a range of weather conditions.
The company is also testing its vehicles in challenging winter conditions across upstate New York and Michigan, aiming to eventually offer its service beyond sunny weather states.
This latest investment brings Waymo's total funding to more than $11 billion, reflecting continued confidence in its mission to transform how you move around cities. While some Americans remain skeptical of self-driving technology, Waymo's data suggests its vehicles have fewer crashes than human drivers on public roads.