Waymo Raises $16 Billion From Alphabet and Others to Expand (1)

Waymo, Alphabet Inc.’s autonomous driving unit, raised $16 billion at a $126 billion valuation, a funding round that reflects its rapid ascent as a robotaxi pioneer.

The financing was led by new investors Sequoia Capital, DST Global and Dragoneer Investment Group, Waymo said in a statement Monday. The new valuation includes the money raised.

Bloomberg News reported earlier that Alphabet would be contributing $13 billion to the investment. Waymo confirmed in Monday’s announcement that its parent company is participating in the financing, without giving exact terms.

“This infusion of capital will ensure we are positioned to move forward with ...