Waymo, a leading autonomous vehicle company backed by Alphabet, has closed a massive $16 billion funding round at a valuation of $126 billion, making it the largest investment ever in an autonomous vehicle company. The funding will be used to expand Waymo's services to over 20 new cities this year, including its first international markets in Tokyo and London. With this significant investment, Waymo aims to further establish itself as a leader in the autonomous mobility market.
The funding round was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with participation from several prominent tech investors such as Andreessen Horowitz, Mubadala Capital, Bessemer Venture Partners, Silver Lake, Tiger Global, T. Rowe Price, Fidelity, and others. Alphabet remains the majority investor.
Waymo's impressive operational metrics have contributed to its $126 billion valuation. The company has achieved significant milestones such as tripling its weekly paid rides in just one year while maintaining customer delight. This growth is backed by substantial data, including 127 million miles driven and 15 million rides in a single year, with a notable reduction in serious crashes.
The $16 billion funding will be used to drive aggressive expansion plans for Waymo. The company aims to enter additional US cities throughout 2026 and expand into international markets such as Tokyo and London. This move marks a significant milestone for autonomous vehicle deployment outside the US.
Fleet growth is also on the agenda, with Waymo planning to increase its vehicles across existing and new markets to meet what it calls 'exploding global demand.'
Waymo's leadership believes that its technology has brought autonomous driving from science fiction to reality. As it scales in 2026 and beyond, Waymo expects to boost productivity and accessibility for millions while improving road safety worldwide.
The expansion to Tokyo and London is particularly significant as regulatory approval for autonomous vehicles in these countries would demonstrate that Waymo's technology can meet different safety standards and operate in different driving environments. This achievement could pave the way for global deployment of autonomous ride-hailing services.
Furthermore, the planned entry into additional US cities in 2026 is expected to significantly boost the credibility of autonomous ride-hailing services within the general population.
Overall, Waymo's $16 billion funding round at a valuation of $126 billion marks an important milestone for the company and the autonomous mobility market as a whole. With this significant investment, Waymo is poised to drive further growth and expansion in the coming years.