Waymo has raised $5.6 billion in its largest funding round to date, aiming to expand its robotaxi services to more cities. The capital comes from prominent investors, including Alphabet and Tiger Global, bringing Waymo’s total funding to $11.1 billion.
The funding will bolster operations in existing markets like San Francisco, Los Angeles, and Phoenix while facilitating launches in Austin and Atlanta, where rides will exclusively use the Uber app.
Despite its achievements, including over 100,000 weekly customer trips, Waymo still faces challenges. Last quarter, it reported a $1.1 billion loss in operating income as it continues to innovate in autonomous driving technology.