Waymo just closed a $16 billion funding round at a $126 billion valuation, the largest investment ever in an autonomous vehicle company. The Alphabet-backed robotaxi leader plans to use the capital to expand to over 20 new cities this year, including its first international markets.
The funding
The round was led by Dragoneer Investment Group, DST Global, and Sequoia Capital, with significant participation from Andreessen Horowitz, Mubadala Capital, Bessemer Venture Partners, Silver Lake, Tiger Global, T. Rowe Price, Fidelity, and others. Alphabet remains the majority investor.
“This capital underscores that the age of autonomous mobility at scale has arrived, and Waymo is leading the way,” the company wrote in its announcement.
The investor list reads like a who’s who of institutional tech investing — firms that don’t write $16 billion checks without extensive due diligence.
The numbers behind the valuation
While we don’t have actual revenue figures, Waymo’s $126 billion valuation is backed by impressive operational metrics:
| Metric | Figure |
|---|---|
| Fully autonomous miles driven | 127 million |
| Reduction in serious injury crashes | 90% vs human drivers |
| Rides in 2025 | 15 million (3x growth from 2024) |
| Lifetime rides | 20+ million |
| Current weekly rides | 400,000+ |
| US metro areas currently served | 6 |
“Waymo has moved beyond research milestones to achieve operational excellence, tripling its weekly paid rides in just one year while maintaining customer delight,” said Sequoia partner Konstantine Buhler.
Expansion plans
The $16 billion will fund aggressive expansion:
US expansion: Building on recent launches like Miami, Waymo plans to enter additional US cities throughout 2026.
International markets: Tokyo and London are confirmed as the company’s first international markets, marking a major milestone for autonomous vehicle deployment outside the US.
Fleet growth: More vehicles across existing and new markets to meet what the company calls “exploding global demand.”
“Waymo has brought autonomous driving from science fiction to reality,” said DST Global co-founder Saurabh Gupta. “As it scales in 2026 and beyond, Waymo will boost productivity and accessibility for millions while improving road safety worldwide.”
Electrek’s Take
This is what it looks like when autonomous driving actually works at scale.
Top comment by Blake
"The expansion to Tokyo and London is particularly significant."
Adding to these right hand drive markets, Waymo is also about to begin testing in Australia
127 million miles. 90% fewer serious crashes. 15 million rides in a single year. Those aren’t projections or promises, they’re results. And now with $16 billion in the bank, we can expect some insane expansions.
The expansion to Tokyo and London is particularly significant. Regulatory approval for autonomous vehicles in Japan and the UK would demonstrate that Waymo’s technology can meet different safety standards and operate in different driving environments. If successful, it removes one of the last remaining questions about whether this can truly scale globally.
Meanwhile, I expect tens of millions more people will have the opportunity to experience Waymo in other US cities in 2026, which should significantly boost the credibility of autonomous ride-hailing services within the general population.
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