Waymo raises $2.25 billion from outside investors, parent Alphabet

(Reuters) – Waymo, the self-driving unit of Alphabet Inc (O:), said on Monday it has raised $2.25 billion in its first external investment round.

In addition to Alphabet, investors include auto parts supplier Magna International Inc (TO:), U.S. dealership chain AutoNation Inc (N:), the Canada Pension Plan Investment Board and three large investment firms: Silver Lake, Andreessen Horowitz and Mubadala Investment.

Waymo did not provide a valuation.

Last September, investment bank Morgan Stanley (NYSE:) slashed its projected valuation of Waymo to $105 million from its earlier estimate of $175 million, saying the commercialization of self-driving vehicles and technology was taking longer than expected.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.