
Waymo raises $2.5 billion in latest fundraising round despite challenges
CNN
Waymo, the self-driving company of Google's parent company Alphabet, has raised $2.5 billion as its investors appear undeterred by a CEO change and progress that has lagged expectations.
The investment comes about a year after Waymo raised $2.25 billion in its first external fundraising round. Waymo said Wednesday that the new funding came from Alphabet, venture capital firms, sovereign wealth funds and auto industry companies. Alphabet led the round, and the valuation was not disclosed. Waymo's co-CEOs Tekedra Mawakana and Dmitri Dolgov, said in a blog post that the funding would be used to expand the company's team and improve its technology.More Related News