Self-driving technology company Waymo raises additional $750m

Waymo, an Alphabet subsidiary developing self-driving solutions, has raised an additional $750m through its first external investment round.

The funding comes as an extension to the $2.25bn financing round announced in March 2020.

In the latest fundraising, T Rowe Price Associates, Perry Creek Capital, Fidelity Management & Research Company and other external investors invested in the company.

Waymo has now raised a total of $3bn through the external investment round.

In a blog post, the company said that the new proceeds will also be used to further its investment in people, technology, and its Waymo One and Waymo Via operations.

“Covid-19 has underscored how fully self-driving technology can provide safe and hygienic personal mobility and delivery services. We’re grateful these partners share our mission to make it safe and easy for people and things to get where they’re going,” the blog post added.

Recently, the company resumed testing of self-driving vehicles in Phoenix, Arizona. The tests were suspended since March due to the Covid-19 pandemic.

The company will initially limit its operations to testing autonomous cars. Gradually, it will advance in serving Waymo One riders again.

Waymo also noted that it has taken a series of measures to ensure the safety of its team, partners and riders. These include complying with social distancing guidelines, the introduction of personal health and safety training, and increasing the frequency of cleaning and disinfection.

The company will also assess the health of all its workers before they enter the facilities.