Participated · Equity · May 2020

Waymo develops and operates fully driverless robotaxis, offering on-demand rides across multiple U.S. metropolitan areas. Its fleet now delivers roughly 400,000 rides each week in six major cities, and the company more than tripled annual volume in 2025 to 15 million rides, surpassing 20 million lifetime trips. Having secured permits to charge for rides in California, Waymo has expanded from its original Phoenix deployment to San Francisco, Los Angeles, Austin, Atlanta, and Miami. The firm plans to enter more than a dozen additional international cities in 2026, including London and Tokyo, and is “laying the groundwork” for operations in 20+ further locations. Waymo positions itself as past the proof-of-concept stage and focused on global scale. The latest financing values the company at $126 billion and provides capital to grow vehicle supply, broaden geographic coverage, and reinforce operational infrastructure. Regulatory scrutiny remains, with U.S. safety agencies investigating recent incidents involving the fleet.