Waymo: What US$16bn Capital Raise Means for Global Growth

Waymo, previously known the Google Self-Driving Car Project, has secured a US$16bn investment round, valuing the company at US$126bn. 

The investment means additional capital for the autonomous taxi company to expand services to more cities in 2026, including New York, Tokyo and London – and cars have already been seen on test drives. 

Waymo is already present in six US cities: Atlanta, Austin, Los Angeles, Phoenix, San Francisco and Miami. It aims to expand to 20 more cities in 2026, targeting a September launch for its full taxi service in London.

Its main investor is Alphabet, parent company of Google. Significant investors also include Dragoneer Investment Group, DST Global and Sequoia Capital.

Improving road safety

During Waymo's test drives, safety drivers are positioned in the front seat of its Jaguar vehicles. However, when the service officially launches to customers in London – potentially by September – they will be unmanned. 

Waymo has so far clocked up 127 million miles of rides, surpassing 15 million rides in 2025 with a fleet of 1,000 robotaxis in San Francisco and 700 in LA.

The firm has also achieved a 90% reduction in serious injury crashes. Ultimately, driverless cars are expected to improve overall road safety worldwide.

“Waymo has brought autonomous driving from science fiction to reality," says Saurabh Gupta, Co-Founder of investor DST Global. "It's saving lives already, with significantly fewer serious injury crashes compared to human drivers.

"Autonomous driving, led by Waymo, will have a profound impact on how we live and work, including reimagining cities. We are excited to partner with Tekedra, Dmitri and the Waymo team to be a part of this future."

How will it impact the UK economy?

The UK Government estimates Waymo's arrival in the UK could create 40,000 new jobs and add £42bn (US$57.6bn) to the economy by 2035.

While fully-autonomous, driverless cars are not yet legal for unrestricted public use in the UK, this is expected to change later in 2026. 

Konstantine Buhler, Partner at Sequoia Capital, comments: "As a technology leader in the trillion-dollar transportation market, Waymo has moved beyond research milestones to achieve operational excellence, tripling its weekly paid rides in just one year while maintaining customer delight."

“Waymo is an exceptional business, leveraging its compounding data advantage to usher in a new era of transportation and a safety culture that can save millions of lives. We’re excited to partner with Tekedra, Dmitri and team as they expand the magic of the Waymo Driver to 20 additional cities and beyond."

Brand competition

Waymo's plans for a September 2026 full-service launch on the streets of London could offer a more convenient, albeit more expensive, option for families as they attempt to navigate the capital.

A Waymo spokesperson told the BBC that pricing would be “competitive” but “premium”, and would rise at peak times. 

According to TechCrunch, Waymo's average price for a ride is around US$20 in San Francisco, which equates to about £15, while Uber and Lyft's driver-operated rides were around US$15 (~£11) for the same journey.

Uber and Lyft are also expected to launch robotaxi services in the UK. Both have previously announced partnerships with Chinese company Baidu.

Last year, Lyft CEO David Risher said: "Our partnership with Baidu is all about creating a great customer experience. Their extensive track record operating the world's largest autonomous ride-hailing service means we can bring all the benefits of AVs – safety, reliability and privacy – to millions of Europeans."

"It's part of our hybrid network approach, where AVs and human drivers work together to provide customer-obsessed options for riders. And importantly, we're committed to working hand-in-hand with local regulators to ensure we deploy these vehicles in their communities in a smart, thoughtful way that benefits everyone."

Concluding its latest funding announcement, Waymo states: "We are proud of the hard work and accomplishments it took to reach this point, not just through innovation, but through the hard-earned trust of our riders, community partners, policymakers and regulators required to redefine how the world moves."