WAYMO MONEY: Self-Driving Vehicle Company Hauls in $2.25 BILLION Investment
Mountain View, CA – Waymo, the self-driving technology company that’s part of Alphabet (Google’s parent company), hauled in more than $2 billion in a recent round of outside funding.
On Monday, the California-based autonomous vehicle startup announced its first external investment round, led by Silver Lake Management LLC, a private equity firm, along with Canada Pension Plan Investment Board and Mubadala Investment Company, pulled in an initial $2.25 billion.
Additional investors in this initial $2.25 billion close include Magna International, Andreessen Horowitz, and AutoNation, as well as Alphabet.
Waymo’s CEO, John Krafcik, expressed his appreciation to the new investors and shared his excitement about the future.
“With this injection of capital and business acumen, alongside Alphabet, we’ll deepen our investment in our people, our technology, and our operations, all in support of the deployment of the Waymo Driver around the world,” said Krafcik.
The huge infusion of funds comes as Waymo is already riding high after recently announcing it is joining forces with the United Parcel Service (UPS) for a “first-of-its-kind” test.
Waymo’s autonomous Chrysler Pacifica minivans will soon be shuttling packages from UPS Stores in the Metro Phoenix area to the UPS Tempe, AZ hub, as part of a pilot program.
If all goes well in the Waymo-pilot, UPS could soon deploy more self-driving shuttles in other cities around the nation.
In January, Waymo also announced it would soon be testing its “long-haul” autonomous big rigs in Texas and New Mexico.
Just last month, cash-strapped competitor, Starsky Robotics, was reportedly shopping itself to Waymo, along with numerous other autonomous technology companies, after the San Francisco-based autonomous trucking company laid off a majority of its employees when its funding fell through in November of last year.
However, no agreement has yet been reached.
It continues to be a fascinating time in the burgeoning autonomous trucking race.