Tesla Rival Waymo Closes Oversubscribed Investment Round of USD 5.6 Billion Led by Google-Parent Alphabet in Bid To Compete With Robotaxi

By admin On Oct 26, 2024

Tesla rival Waymo announced the closure of its investment round with another USD 5.6 billion, led by owner Alphabet. The autonomous vehicle provider said that the significant investment would allow it to expand its reach across the United States. After securing the funds, Waymo currently offers services in cities like Los Angeles, San Francisco and Phoenix. The Alphabet-owned self-driving EV company would expand its reach to Austin and Atlanta by partnering with Uber. After Elon Musk’s Tesla introduced Robotaxi, the competition became fierce, and Waymo already had other competitors like Cruise and Wayve in the market. Tesla Q3 2024 Earnings: Elon Musk’s EV Company Sees 9% Profit Growth Amid Increased Production and Margins; Check Details.

Alphabet-Owned Waymo Closed Investment Round With USD 5.6 Billion

We’re excited to announce that we’ve closed an oversubscribed investment round of $5.6B, led by Alphabet, with continued participation from @a16z, @Fidelity, Perry Creek, @silverlake_news, Tiger Global , and @TRowePrice.

More: https://t.co/szhKaZ1oAg pic.twitter.com/QPt0RHoOLG

— Waymo (@Waymo) October 25, 2024

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