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<Business Innovation Daily> Waymo announces $2.5 billion in funding to advance autonomous driving
Waymo announces $2.5 billion in funding to advance autonomous driving
Waymo announced a $2.5 billion funding round Wednesday to advance its self-driving technology and grow its team, the company said on June 16.
Waymo is one of Google's parent company Alphabet's "investments" that continues to lose money. The funding round follows the departure of Waymo CEO John Krafcik in April and criticism of the company's slower-than-expected progress in commercializing its technology. The latest financing shows that the company is increasingly dependent on other investors to support the division.