Waymo raises $5.6 billion to fund Austin and Atlanta growth

Waymo has raised one other large chunk of change from traders. The corporate that it secured an “oversubscribed funding spherical” of $5.6 billion in funding, the biggest of which got here from Google’s mum or dad firm Alphabet.

The corporate is working with Uber to broaden to by the early a part of subsequent yr. Waymo says it plans to make use of this newest infusion of capital for the expansions. This newest spherical brings Waymo’s whole capital fundraising to $11.1 billion, with the $5.5 billion it picked up in two earlier rounds in and .

Waymo presently operates in San Francisco, Los Angeles and Phoenix with a curbside transport service for Sky Harbor Worldwide Airport by way of its Waymo One driving system for companies. The corporate introduced it’s additionally began providing “totally autonomous freeway operations in Phoenix and San Francisco.”

The brand new funding can even assist Waymo advance its Waymo One system, an adaptable autonomous driving system for various companies. Waymo wrote on its weblog it plans to “assist quite a lot of enterprise functions over time” by way of 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 firms like Uber, which 4 years in the past earlier than becoming a member of forces with Waymo.