Waymo Targets $15 Billion Funding as Robotaxi Expansion Accelerates
Waymo is in discussions to raise more than $15 billion in new funding early next year. As a result, the round could value the self-driving company at as much as $110 billion. Moreover, the talks involve both its parent company and external investors. According to a person familiar with the matter, the size would mark a major step up from prior funding.
The discussions highlight Waymo’s position at the forefront of the U.S. robotaxi market. Meanwhile, the company continues to invest heavily in fleet expansion and regional growth. Currently, it operates services, prepares launches, or tests vehicles across 26 markets in the U.S. and abroad. Consequently, its footprint now spans some of the most competitive mobility regions.
Alphabet CEO Sundar Pichai said Waymo will “meaningfully” contribute to Alphabet’s financials as soon as 2027.
Valuation jump and investor backing
If Waymo raises the full amount, the round would more than double its previous funding. In October 2024, the company closed a $5.6 billion Series C round at a $45 billion valuation. At that time, Alphabet committed $5 billion as part of a multiyear investment. Therefore, the new talks point to sharply rising investor confidence.
That earlier round included participation from Andreessen Horowitz, Fidelity, Perry Creek, Silver Lake, Tiger Global, and T. Rowe Price. At the time, Waymo co-CEOs Tekedra Mawakana and Dmitri Dolgov said the funding would go toward expanding its robotaxi service. Since then, the company has accelerated both deployment and rider adoption. As a result, Waymo has strengthened its lead amid growing competition.
Service expansion and competitive landscape
Waymo currently offers paid rides in Austin, the San Francisco Bay Area, Phoenix, Atlanta, and Los Angeles. Earlier this month, the company crossed an estimated 450,000 weekly paid rides. In addition, it reported serving 14 million trips in 2025. Consequently, it is on pace to surpass 20 million total trips since launching in 2020.
Looking ahead, Waymo plans to launch services next year in Dallas, Denver, Detroit, Houston, Las Vegas, Miami, Nashville, Orlando, San Antonio, San Diego, and Washington, D.C. Furthermore, it announced plans to enter London in 2026, marking its first overseas market. Meanwhile, competitors continue to test their own services, though many still rely on human drivers or safety supervisors. Therefore, Waymo remains the only operator running large-scale, fully driverless paid services across multiple cities.
