Waymo extends external funding round to $3 billion

Waymo

Waymo, the self-driving unit of Alphabet, have stated that it has raised an additional $750 million in its first external investment round, bringing the total funding to $3 billion. 

KEY POINTS

  • Waymo raises an additional $750 million
  • T Rowe Price Associates, Perry Creek Capital and Fidelity Management & Research amongst the latest participants in the funding round
  • Total funding of $3 billion

T Rowe Price Associates Inc, Perry Creek Capital and Fidelity Management & Research were among the investors of the latest financing round, the company said.

This round comes after the initial investment of $2.25 billion, back in March of this year.

Founded 11 years ago as a small project inside Google, Waymo is now widely considered the leader in developing self-driving technology. But Waymo and its principal rivals are still years away from building large-scale businesses around that technology, analysts believe.

The outside investors will help Waymo be more disciplined, Alphabet Chief Financial Officer Ruth Porat told a Morgan Stanley investor conference in March.

Via our content partners at Reuters. Reporting by Ayanti Bera in Bengaluru. Editing by Shailesh Kuber.

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