Waymo, Alphabet’s autonomous driving business, is in advanced discussions to raise more than $15bn at a valuation approaching $100bn, according to reports.
The funding round, expected to be completed in early 2025, would be led by parent company Alphabet with participation from external investors. Waymo’s previous round in October 2025 valued the firm at more than $45bn.
Should Waymo secures funds at the new valuation, it would underscore broader adoption of the nascent autonomous vehicle technology. The industry is still in the very early stages, and a land grab is underway to deploy fleets as quickly as possible in as many cities as possible.
Waymo has its nose out in front at this stage.
Waymo operates the only paid driverless ride-hailing service in the United States with no safety drivers or in-vehicle attendants, deploying a fleet exceeding 2,500 vehicles across several American cities. Tesla has a human pilot in its AV taxis but plans to offer rides without a human driver soon.
Carved out from Google’s self-driving car project in 2016, Waymo has emerged as one of the most advanced autonomous vehicle platforms globally.
The proposed fundraise, which could rank among the largest private rounds in the sector’s history, reflects renewed investor appetite for commercialised autonomous driving technology, particularly as enthusiasm for AI-linked assets remains robust.
A number of AV companies have already been listed on US exchanges and have attracted strong investor demand. It’s likely Waymo enjoys similar demand during this round.