Waymo seeking about $16 billion near $110 billion valuation, Bloomberg News reports

Jan 31 (Reuters) – Alphabet unit Waymo is aiming to raise about $16 billion in a financing round that would value it at nearly $110 billion, Bloomberg News reported on Saturday, citing people familiar with the matter. Alphabet would provide about $13 billion to the autonomous driving firm while the rest would come from investors including Sequoia Capital, DST Global and Dragoneer Investment Group, the report added. Alphabet and Waymo did not immediately respond to Reuters' request for comment. Reuters could not immediately verify the report. In December last year, The Information reported Waymo was in talks to raise money at a valuation of at least $100 billion. Waymo, which Alphabet carved out of Google's self-driving car project in 2016, is the only operator in the U.S. offering paid robotaxi services with no safety drivers or in-vehicle attendants. It has a fleet of more than 2,500 vehicles. This move underscores the accelerating race to commercialize fully autonomous vehicles, with leading players investing heavily and focusing on safety, technology refinement and regulatory cooperation to win market share. The United States' auto safety agency said on Thursday that it has opened an investigation after a Waymo self-driving vehicle struck a child near an elementary school in Santa Monica, California, last week, causing minor injuries and renewing concerns about the safety of robotaxis. (Reporting by Anusha Shah in Bengaluru; Editing by Alistair Bell and Diane Craft)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)