Waymo, the self-driving arm of Google’s parent company Alphabet, announced Monday that it has raised $2.25 billion in its first external round of funding. And, it said, it expects to raise even more money as it looks to scale and expand its business.
The investment was led by private equity firm Silver Lake Partners, the Canada Pension Plan Investment Board and the Mubadala Investment Company, the sovereign wealth fund of the United Arab Emirates. Other investors included venture capital firm Andreessen Horowitz, auto parts supplier Magna and auto retailer AutoNation (AN). Alphabet also invested in the round.
Waymo did not disclose how much the investment currently values the company at.
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