CALIFORNIA: Waymo, the self-driving unit of Alphabet Inc, said on Monday it had raised $2.25 billion in its first external investment round and expects to add more outside investors.
The company also disclosed its self-driving trucking business will be called Waymo Via.Founded 11 years ago as a small project inside Google , Waymo now is widely considered the leader in developing self-driving technology.
But Waymo and its principal rivals are still years away from building large-scale businesses around that technology, analysts believe.Waymo Chief Executive Officer John Krafcik , in a media briefing late on Monday, declined to confirm whether Alphabet plans to sell or spin off Waymo, saying it was "certainly a possibility for the future.
Figures for other outside investors were not immediately available.
Waymo did not provide a valuation.Last September, investment bank Morgan Stanley slashed its projected valuation of Waymo to $105 billion from its earlier estimate of $175 billion, saying the commercialization of self-driving vehicles and technology was taking longer than expected.Krafcik said Waymo plans to offer a range of self-driving transportation services, from its Waymo One ride hailing business in Phoenix through the new Waymo Via logistics business that would bundle local and long-haul delivery.He said Waymo, which has partnered with Lyft Inc , Fiat Chrysler Automobiles and Jaguar Land Rover , is considering partnerships with other automakers and transportation service providers in various markets outside North America, but did not provide details. | To read full story, visit https://startuparound.com/read/1583209806.1201742/Google's-self-driving-sister,-Waymo,-gets-first-outside-investors?ref=audio_experience