Waymo, the self-driving unit of Alphabet, have stated that it has raised an additional $750 million in its first external investment round, bringing the total funding to $3 billion.
KEY POINTS
- Waymo raises an additional $750 million
- T Rowe Price Associates, Perry Creek Capital and Fidelity Management & Research amongst the latest participants in the funding round
- Total funding of $3 billion
T Rowe Price Associates Inc, Perry Creek Capital and Fidelity Management & Research were among the investors of the latest financing round, the company said.
Related Articles
This round comes after the initial investment of $2.25 billion, back in March of this year.
Founded 11 years ago as a small project inside Google, Waymo is now widely considered the leader in developing self-driving technology. But Waymo and its principal rivals are still years away from building large-scale businesses around that technology, analysts believe.
The outside investors will help Waymo be more disciplined, Alphabet Chief Financial Officer Ruth Porat told a Morgan Stanley investor conference in March.
Via our content partners at Reuters. Reporting by Ayanti Bera in Bengaluru. Editing by Shailesh Kuber.
This article was published by Platform Executive, the home of the platform economy.
