Waymo raises $5.6 billion to fund Austin and Atlanta enlargement

Waymo has raised one other big chunk of change from traders. The corporate that it secured an “oversubscribed funding spherical” of $5.6 billion in funding, the most important of which got here from Google’s mum or dad firm Alphabet.

The corporate is working with Uber to broaden to by the early a part of subsequent yr. Waymo says it plans to make use of this newest infusion of capital for the expansions. This newest spherical brings Waymo’s whole capital fundraising to $11.1 billion, with the $5.5 billion it picked up in two earlier rounds in and .

Waymo at present operates in San Francisco, Los Angeles and Phoenix with a curbside transport service for Sky Harbor Worldwide Airport by way of its Waymo One driving system for companies. The corporate introduced it’s additionally began providing “absolutely autonomous freeway operations in Phoenix and San Francisco.”

The brand new funding may also assist Waymo advance its Waymo One system, an adaptable autonomous driving system for various companies. Waymo wrote on its weblog it plans to “help quite a lot of enterprise purposes over time” by way of Waymo One.

Alphabet ponied up again in July as a part of what Alphabet’s chief monetary officer Ruth Porat known as a “multi-year funding.” The driverless automobile fleet logged a complete of in July outpacing corporations like Uber, which 4 years in the past earlier than becoming a member of forces with Waymo.