"Waymo announced a $16 billion investment round aimed at bringing its robotaxi business to more US cities, as well as some overseas markets. The funding round was led by Dragoneer Investment Group, a "crossover" firm known for investing in late-stage tech companies before they go public. Waymo's co-CEOs said in a blog post they would use some of the money to buy more vehicles to grow its fleets size, a crucial step as it seeks to launch in at least 20 new cities in 2026."
"Despite their promise to bring down costs by eliminating driver jobs, autonomous ridehail vehicles are enormously expensive. In addition to vehicle purchases, companies must install expensive sensors and computers into each vehicle. The robotaxis need to be monitored by remote operators during trips. And fleet managers handle EV charging, cleaning, and sensor calibration while the robotaxis are offline. Still, Waymo is one of the few companies to run a paid service with fully driverless vehicles in the US."
Waymo raised $16 billion in a funding round led by Dragoneer to expand its robotaxi business into more US cities and some overseas markets. Some funds will be used to buy vehicles to grow fleet size as Waymo aims to launch in at least 20 new cities in 2026. Waymo currently operates more than 2,500 robotaxis in six US cities and is valued at $126 billion. The round included new and returning investors and follows a $5.6 billion raise in 2024 valuing the company at $45 billion. Autonomous ridehail remains costly due to sensors, computers, remote monitoring, charging, cleaning, and calibration. Waymo runs a paid fully driverless service and plans to enter markets such as New York City, London, and Tokyo. The National Highway Traffic Safety Administration opened a probe into an incident where a Waymo vehicle struck a child in Santa Monica, causing minor injuries.
Read at The Verge
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