Waymo Closes $5.6 Billion Funding Round Led By Alphabet (1)

Waymo, Alphabet Inc.’s autonomous driving unit, raised $5.6 billion from investors, its largest-ever funding round.

The investment was led by Google parent Alphabet and included participation from Andreessen Horowitz and big-name finance firms Fidelity Investments, T. Rowe Price Group and others, Waymo said in a statement on Friday.

Waymo is one of a large pack of companies pursuing robotaxi services in the US. It runs a commercial ridehailing platform in San Francisco, Phoenix and Los Angeles, where it charges fares for trips in self-driving cars. Waymo also recently partnered with Uber Technologies Inc. to offer rides through its ...