Waymo announced that it had raised around 2.25 billion dollars in a round of fundraising led by the Mubadala Investment Company and Silver Lake, a Canada based Pension Plan Investment Board.
Waymo announced raising External Funding through major Silicon Valley investors
The company shared its first external investment that included companies like AutoNation, Andreessen Horowitz, Magna, and parent Alphabet.
Waymo, CEO detailed the news in a blog post
The CEO of Waymo, John Krafcik, mentioned the same in the company blog stating,
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
“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.”
Talks about the expansion plans
He further added,
“We’ve always approached our mission as a team sport, collaborating with our OEM and supplier partners, our operations partners, and the communities we serve to build and deploy the world’s most experienced driver. Today, we’re expanding that team, adding financial investors and critical strategic partners who bring decades of experience investing in and supporting successful technology companies building transformative products”.
Self-Driven Cars Technology ready for Deployment
During the 2020 CES event, Waymo also announced that the Company’s Self Driving cars have already driven more than 20m Miles on the public roads, and now the technology owned by the company in the self-driven car is ready for Deployment on a more massive scale.
No Accidents reported yet
As per the reports, even though a lot of self-driving cars have reported accidents, fortunately for Waymo, the company led self-driven vehicles have managed to avoid any significant fatalities. While cases like Uber self-driving test fatality in Arizona brought bad publicity to the company, Waymo has managed to till yet not reported any such matter.
Self-driving technology is now quite advanced, and the overall environment to use and regulate them is still in the early stages. Thus, until the driving situations and the traffic regulations advance, the autonomous cars will be seen in limited regions.