Waymo seeks funding at over $100b valuation amid robotaxi race
Alphabet’s autonomous driving unit Waymo is in discussions with potential investors to raise new funding at a valuation of at least $100 billion as competition heats up in the emerging robotaxi market.
According to the report, which cited people familiar with the company’s plans, the financing round could potentially exceed $10 billion and is expected to be arranged early next year, News.Az reports, citing Reuters.
Bloomberg News also reported that Waymo is looking to raise more than $15 billion at a valuation near $100 billion, in a round led by parent Alphabet.
Alphabet and Waymo did not immediately respond to Reuters' requests for comments.
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.
The move underscores the accelerating race to commercialize fully autonomous vehicles, with leading players investing heavily and focusing on safety, technology refinement and regulatory cooperation to win market share.
Rival Tesla (TSLL )CEO Elon Musk said on Sunday the electric-vehicle maker was testing its robotaxis without safety monitors in the front passenger seat.
Much of Tesla's $1.53 trillion valuation — the highest of any automaker globally — is tied to investor optimism around its self-driving technology and humanoid robot ambitions.
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