Waymo raises $2.25 billion to scale up autonomous vehicles operations

Waymo, Google parent company Alphabet’s autonomous vehicles division, just got a massive capital infusion from a coterie of investors. It today announced that it secured $2.25 billion in financing from Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company (the sovereign wealth fund of Abu Dhabi), as well as auto parts supplier Magna International, Andreessen Horowitz, auto retail giant AutoNation, and Alphabet itself. It’s an initial close on the company’s first round of funding.

Representatives of Silver Lake and the Canadian Pension Fund will join Waymo’s board as part of the investment, said Waymo CEO John Krafcik.