Alphabet’s autonomous car division, Waymo, is reportedly seeking to raise $15 billion, according to sources who spoke to Bloomberg News.
If it comes to fruition, the funding would put the division’s valuation near $100 billion. The round is being led by its parent company, Alphabet, which also owns Google.
The last financing round was in October 2024, when Waymo was valued at more than $45 billion.
Waymo has achieved an annual revenue run rate above $350 million, sources said. It already charges for robotaxi rides in Austin, Phoenix, Los Angeles, San Francisco, Atlanta and Miami. Four new cities will get it soon: Dallas, Houston, San Antonio and Orlando, according to a Waymo blog post.
The robotaxi company is one of only two to operate on automation level 4, which means it does not need a human safety driver. It operates within a limited area. The other one is Amazon’s Zoox, although it doesn’t charge for fares yet. Tesla still uses human monitors for now.