Dec 16 (Reuters) – Alphabet unit Waymo is in talks with potential investors to raise money at a valuation of at least $100 billion, the Information reported on Tuesday, citing people familiar with the ride-hailing service provider’s plans.
The size of the financing round will at least be several billions of dollars, possibly even more than $10 billion, according to the Information.
The exact valuation has not yet been set, the report said, adding that the funding is expected to be arranged early next year.
Bloomberg News also reported that Waymo is looking to raise more than $15 billion at a valuation near $100 billion, in a round led by parent Alphabet.
Alphabet and Waymo did not immediately respond to Reuters requests for comments.
Waymo, which Alphabet carved out of Google’s self-driving car project in 2016, is the only operator in the U.S. offering paid robotaxi services with no safety drivers or in-vehicle attendants. It has a fleet of more than 2,500 vehicles.
Rival Tesla CEO Elon Musk said on Sunday the electric-vehicle maker was testing its robotaxis without safety monitors in the front passenger seat.
Much of Tesla’s $1.53 trillion valuation — the highest of any automaker globally — is tied to investor optimism around its self-driving technology and humanoid robot ambitions.
Alphabet has a market capitalization of around $3.73 trillion, according to LSEG data.
(Reporting by Juby Babu in Mexico City; Editing by Shinjini Ganguli)
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