Hyperdrive
Alphabet’s Waymo Raises $2.25 Billion For Driverless Cars
- CEO Krafcik suggests company could eventually spin off unit
- Silver Lake leads deal that includes Mubadala, AutoNation
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Waymo raised $2.25 billion from a slate of private equity investors, venture capitalists and automotive companies, the first time Alphabet Inc.’s autonomous vehicle unit has taken outside funds.
Silver Lake Management LLC, a private equity firm, led the round, which also includes auto manufacturer Magna International Inc., car seller AutoNation Inc., Abu Dhabi’s Mubadala Investment Co. and the Canada Pension Plan Investment Board.