Google’s Waymo Collects $2.5B to Continue Autonomous Driving Push

Google’s Waymo Collects $2.5B to Continue Autonomous Driving Push

After gaining $2.2 billion from a string of high-profile financial institutions, Waymo has so far invested more than $5 billion. In addition to the parent company’s partnerships, Google Umbrella includes Alphabet, Anderson Horowitz, AutoNation, Canada Pension Plan Investment Board, Fidelity Management and Research, Magna International, Mubadala Investment Company, Perry Creek Capital and Silver Lake.

The new investment was worth $2.25 billion in March 2020 and peaked at $50 million just three months later. It also comes after the departure of CEO John Krafcik in April this year. The business is now led by Tecdra Mawakana and Dmitry Dolgov as co-CEO, Waymo as chief technology and chief operating officer, respectively. The company says: “As we build, deploy and commercialize Waymo drivers, it’s gratifying to see so much interest in making it more secure, more accessible and more sustainable along the way as part of our journey to transform mobility.” The new investment was worth $2.25 billion in March 2020 and peaked at $50 million just three months later. It also comes after the departure of CEO John Krafcik in April this year. The business is now led by Tecdra Mawakana and Dmitry Dolgov as co-CEO, Waymo as chief technology and chief operating officer, respectively. The company says: “As we build, deploy and commercialize Waymo drivers, it’s gratifying to see so much interest in making it more secure, more accessible and more sustainable along the way as part of our journey to transform mobility.”

Until the March 2020 round, Waymo was fully bankrolled by the parent company, but with the help of external supporters, the strategy was developed to treat the business as a stand-alone business. Autonomous vehicles have been deployed as a ride-healing service in Phoenix, USA, while freight and delivery units have been set up elsewhere as per the choice of UPS.

The co-CEO said in a statement: “With millions of miles driven and millions of miles of simulations driven across 25 cities across the United States, our experience has opened up huge opportunities for us and our investors. And finally we’re creating and installing Waymo drivers to strengthen private car ownership. 

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