Waymo, Alphabet Inc.’s autonomous driving unit, is aiming to raise about $16 billion in a financing round that would value the unit at nearly $110 billion, according to people familiar with the matter.
The parent company would provide about $13 billion to the robotaxi firm, while the rest would come from others, including new investors Sequoia Capital, DST Global and Dragoneer Investment Group, said the people, who asked not to be identified because the discussions are private. Mubadala Capital is also investing in the round, some of the people said.
“While we don’t comment on private financial matters, our trajectory is clear: With over 20 million trips completed, we are focused on the safety-led operational excellence and technological leadership required to meet the vast demand for autonomous mobility,” Waymo said in a statement.
Google could not immediately be reached for comment. Dragoneer, Sequoia and DST did not immediately respond to requests for comment. Mubadala declined to comment.
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Bloomberg reported in December that Waymo was seeking to raise $15 billion at a more than $100 billion valuation.
