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Autonomous Vehicle Company Waymo Announces Investors, Strategic Partners

waymo march03 lt

Waymo, a self-driving technology company, announced its first external investment round, adding financial investors and important strategic partners. The $2.25 billion initial investment was led by Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company. The investors also include Magna International, Andreessen Horowitz, and AutoNation, and Alphabet.

"With this injection of capital and business acumen, alongside Alphabet, we'll deepen our investment in our people, our technology, and our operations, all in support of the deployment of the Waymo Driver around the world," said John Krafcik, CEO, Waymo.

Waymo was initially the Google Self-Driving Car Project in 2009. Its self-driving technology uses machine learning to detect and classify different types of objects and road features. Waymo One, the company's public self-driving ride-hailing service, serves thousands of customers in Arizona. Waymo is currently testing its self-driving technology on Class 8 trucks.

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