Waymo Raises $2.5 Billion to Advance Autonomous Driving Technology

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If an influx of cash is what it takes to get autonomous driving off the ground, then Alphabet-owned Waymo is well on its way. That’s because the company has announced a recent funding round that’s yielded an impressive $2.5 billion to help propel that company’s driverless efforts. Hot off the exit of Waymo’s CEO John Krafcik this spring, the company has faced some criticism for the long slog of development and testing that still largely relies on human backup drivers. This latest funds, according to a blog issued by Waymo, will be tapped for expansion of the driverless ride-hailing program currently being tested in Arizona. They also plan to add team members to support these efforts. Though Waymo is the first AV company to operate a fully driverless, public robotaxi program, its sites are also set on freight, and its program — Waymo Via — is working with supply chain companies in developing Class 8 trucks.

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