Waymo raises $5.6 billion to fund Austin and Atlanta growth

Waymo has raised one other large chunk of change from buyers. 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 father or mother firm Alphabet.

The corporate is working with Uber to increase to by the early a part of subsequent 12 months. Waymo says it plans to make use of this newest infusion of capital for the expansions. This newest spherical brings Waymo’s complete 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 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 will even 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 functions over time” by 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 car 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.