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Alphabet’s Waymo raises $2.5 billion in funding spherical – NEWPAPER24

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Alphabet’s Waymo raises $2.5 billion in funding spherical

2021-06-16 14:18:13

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Alphabet Inc’s self-driving unit Waymo stated on Wednesday it raised $2.5 billion in a funding spherical with participation from Alphabet, Andreessen Horowitz, Silver Lake, and Tiger International, amongst others.
Waymo, which was fashioned in 2009 as a undertaking inside Alphabet’s Google unit, is extensively thought-about the chief in creating self-driving expertise.

In keeping with investor web site PitchBook, the corporate is valued at simply over $30 billion. Alphabet didn’t instantly touch upon the unit’s newest valuation.

The funds from the spherical, which included greater than 10 contributors, will probably be used for advancing Waymo Driver, the corporate’s autonomous driving expertise, and to develop Waymo’s staff, the corporate stated.
Waymo is the primary to self-operate a completely autonomous, public ride-hailing service, Waymo One. It has been self-driving autos in Metro Phoenix, San Francisco and the Bay Space.

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