Waymo raised $2.5 bn in the latest funding round

Alphabet’s self-driving unit Waymo announced it has raised $2.5 billion in a funding round with participation from Alphabet, Andreessen Horowitz, Silver Lake, and Tiger Global, among others.
VC funding investmentsWaymo, which was formed in 2009 as a project within Alphabet’s Google unit, is widely considered the leader in developing self-driving technology.

The funds from the round, which included more than 10 participants, will be used for advancing Waymo Driver, the company’s autonomous driving technology, and to grow Waymo’s team.

Waymo is the first to self-operate a fully autonomous, public ride-hailing service, Waymo One. It has been self-driving vehicles in Metro Phoenix, San Francisco and the Bay Area.