Waymo has generated another slew of changes from investors. The company which raised an “oversubscribed investment round” of $5.6 billion in funding, the largest of which came from Google parent company Alphabet.
The company is working with Uber to expand early next year. Waymo says it plans to use this latest infusion of capital for expansions. This latest round brings Waymo’s total equity fundraising to $11.1 billion, with the $5.5 billion it raised in two previous rounds in y .
Waymo currently operates in San Francisco, Los Angeles and Phoenix with a curbside shuttle service to Sky Harbor International Airport through its Waymo One for Business driving system. The company announced that it also began offering “fully autonomous highway operations in Phoenix and San Francisco.”
The new funding will also help Waymo advance its Waymo One system, an adaptive self-driving system for different businesses. Waymo wrote on its weblog that it plans to “support a variety of business applications over time” through Waymo One.
Improved alphabet in July as part of what Alphabet CFO Ruth Porat called a “multi-year investment.” The driverless vehicle fleet recorded a total of in July, surpassing companies like Uber, which four years ago joined forces with Waymo.
