Alphabet’s Waymo has announced that it has raised $2.5 billion in first fresh funding in a year. The latest investment round saw participation from Alphabet, Andreessen Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management & Research Company, Magna International, Mubadala Investment Company, Perry Creek Capital, Silver Lake, funds and accounts advised by T. Rowe Price Associates, Inc., Temasek, and Tiger Global.
The company plans to use the latest round of investment to continue advancing the Waymo Driver, as well as continuing to grow its team.
“There’s no greater challenge in artificial intelligence than building and deploying fully autonomous technology at scale,” Waymo’s co-CEOs – Dmitri Dolgov and Tekedra Mawakana said in a statement.
“The latest Waymo funding round clearly demonstrates that there is a healthy investor appetite for self-driving technologies,” added Grayson Brulte, president, consultancy Brulte & Co.
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