Waymo, Google's parent company Alphabet's autonomous driving unit, raises another $2.5 billion

On the evening of June 16th, Beijing time, it was reported that Waymo, an autonomous driving company under Google’s parent company Alphabet, announced today that it has received a US$2.5 billion investment in the second round of external financing.

Waymo said that this shows that investors are patient in the commercialization of autonomous driving technology and also highlights Waymo's leading position in the industry. This round of financing is also Waymo's second external financing. Waymo conducted its first external financing in March last year and received a total of US$2.25 billion in investment.

The main investors in this round of financing include Alphabet, Andreessen Horowitz, Fidelity, Silver Lake, T. Rowe Price, Temasek and Tiger Global.

Waymo co-CEO Tekedra Mawakana (Tekedra Mawakana) said that the new funds will be used to continue to improve the self-driving car platform Waymo Driver and continue to grow the company's team.

Waymo is one of Alphabet’s “Other Bets” projects that continue to lose money. The latest round of external financing shows that Alphabet is increasingly relying on other investors to help support the operation of the department.

Currently, Waymo has deployed self-driving car-hailing services in Phoenix. In addition, Waymo Via, its express delivery department, is also cooperating with partners such as UPS to transport goods. However, it will take several years for Waymo's autonomous driving technology to become commercially available.