Waymo valued at $126 billion in latest $16 billion financing as robotaxis gather steam

Alphabet unit Waymo said it had ‍raised $16 billion in its latest fundraising round that valued the self-driving car ⁠startup at $126 billion, nearly tripling its valuation in less than two years.

As one of the most sought-after applications of artificial intelligence, leading ‌autonomous vehicle ‌companies are investing heavily in commercializing their technology, with a focus on safety ‌and regulatory collaboration to gain market share.

The round was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with additional investments from Mubadala Capital, Andreessen Horowitz and T. Rowe Price.