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Breaking: Beyond Headlines!

Waymo raises .6 billion from Alphabet, a16z, Silver Lake and more
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Waymo raises $5.6 billion from Alphabet, a16z, Silver Lake and more

Waymo has farm a $5.6 billion Series C funding round led by parent company Alphabet and joined by the who’s who of Silicon Valley venture capital firms.

Alphabet previously announced in July that it was pledging an additional $5 billion to Waymo, but remained tight-lipped on the details, saying only that it was a “multi-year” commitment. Andreesen Horowitz, Silver Lake, Fidelity, Tiger Global, Perry Creek and T. Rowe Price have all joined the round. Waymo declined to say how much each invested.

This is Waymo’s second external fundraising, and its first Since a $2.25 billion Series B in 2020 that will eventually grew up at $3.2 billion. The autonomous vehicle maker says it will use the funds to expand into new cities and further develop its autonomous capabilities for “commercial applications.”

Waymo is in some ways a very different company today than it was last round. At that time, the company was still diving headlong into an autonomous trucking effort that it since he retired from.

The company has instead focused entirely on its robotaxi ride-sharing service. The bet paid off. Waymo now operates commercial robotaxi services in San Francisco, Los Angeles and Phoenix, and is expanding to Austin and Atlanta. It is give paid rides to more than 100,000 customers per week in these top three markets and offering rides to and from the Phoenix airport. And it works on highways in the Phoenix and San Francisco areas.