Ex-Google Self-Driving Car Project Picks Up New Investors
Techlife News|March 07, 2020
Ex-Google Self-Driving Car Project Picks Up New Investors
Google’s former autonomous vehicle project is becoming a more autonomous business by bringing it in its first investors besides its corporate parent.

Waymo has secured $2.25 billion from a group of investors led by Silver Lake and the Canadian Pension Plan Investment Board to help the company continue to develop its self-driving technology for its ride-hailing service and a recently launched trucking division.

Other investors in the deal announced this week include Mubadala Investment Company, auto part makers Magna International, venture capital firm Andreessen Horowitz and AutoNation, the largest auto dealership chain in the U.S.

Until now, Waymo had been exclusively relying on the deep pockets of its parent company, Alphabet, which also contributing to the $2.25 billion investment.

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March 07, 2020