Waymo Secures $16B Funding, Valued at $110B

Alphabet's self-driving car unit more than doubles valuation since 2024 as it expands robotaxi service.

Feb. 1, 2026 at 9:47am by Ben Kaplan

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Waymo, the autonomous driving company owned by Alphabet, has secured a $16 billion funding round that values the business at $110 billion. This more than doubles Waymo's previous $45 billion valuation from October 2024. Alphabet will provide over 75% of the new capital, with other investors including Sequoia Capital, Dragoneer, DST Global, Andreessen Horowitz, and Mubadala also contributing. Waymo has completed over 20 million rides and 125 million autonomous miles, and expects to reach 1 million paid rides per week later this year as it expands to new markets like San Francisco, Los Angeles, Phoenix, and Miami.

Why it matters

The massive funding round and valuation increase highlight Waymo's rapid growth and Alphabet's confidence in the company's autonomous driving technology. As Waymo scales its robotaxi service, it poses a competitive challenge to Tesla's more limited self-driving capabilities. The funding also comes just before Alphabet's upcoming earnings report, underscoring Waymo's importance to the parent company's future.

The details

Waymo has completed over 20 million rides and 125 million autonomous miles to date. The company expects to reach 1 million paid rides per week later in 2026 as it expands its robotaxi service to additional cities. Waymo's annual recurring revenue has grown to more than $350 million. The $16 billion funding round was led by Alphabet, which will contribute over 75% of the new capital, with other investors including Sequoia Capital, Dragoneer, DST Global, Andreessen Horowitz, and Mubadala.

  • Waymo secured the $16 billion funding round in early 2026.
  • Waymo expects to reach 1 million paid rides per week later in 2026.

The players

Waymo

An autonomous driving company and subsidiary of Alphabet Inc., Google's parent company.

Alphabet Inc.

The parent company of Google and owner of Waymo, which will provide over 75% of the new $16 billion funding for Waymo.

Sequoia Capital

A venture capital firm that is contributing to Waymo's $16 billion funding round.

Dragoneer

An investment management firm that is contributing to Waymo's $16 billion funding round.

DST Global

A global investment management firm that is contributing to Waymo's $16 billion funding round.

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What’s next

Waymo plans to use the new $16 billion in funding to continue expanding its robotaxi service to additional cities and markets, with the goal of reaching 1 million paid rides per week later in 2026.

The takeaway

Waymo's massive $110 billion valuation and rapid growth in autonomous miles and paid rides underscores Alphabet's confidence in the company's self-driving technology and its potential to disrupt the transportation industry. As Waymo scales, it poses a significant competitive challenge to Tesla's more limited autonomous driving capabilities.