Waymo Raises $16 Billion From Alphabet and Others to Expand

Waymo, Alphabet Inc.’s autonomous driving unit, raised $16 billion at a $126 billion valuation, a funding round that reflects its rapid ascent as a robotaxi pioneer.

The financing was led by new investors Sequoia Capital, DST Global and Dragoneer Investment Group, Waymo said in a statement Monday. The new valuation includes the money raised.