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Alphabet's Waymo raises $2.5 billion in funding round
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Alphabet's Waymo raises $2.5 billion in funding round
Reuters / Updated: Jun 17, 2021, 10:22AM IST
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FILE PHOTO: A Waymo employee hails a ride on their phone during a demonstration in Chandler, Arizona, November 29, 2018. REUTERS/Caitlin O’Hara/File Photo
Waymo, which was formed in 2009 as a project within Alphabet's Google unit, is widely considered the leader in developing self-driving technology.
According to investor website PitchBook, the company is valued at just over $30 billion. Alphabet did not immediately comment on the unit's latest valuation.
The funds from the round, which included more than 10 participants, will be used for advancing Waymo Driver, the company's autonomous driving technology, and to grow Waymo's team, the company said.
Waymo is the first to self-operate a fully autonomous, public ride-hailing service, Waymo One. It has been self-driving vehicles in Metro Phoenix, San Francisco and the Bay Area.
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