Report: Waymo is seeking to raise around $16 billion in funding, valuing the company at nearly $110 billion, with Sequoia Capital joining the round.

According to sources, Alphabet Inc.'s self-driving unit Waymo is seeking to raise around $16 billion in a funding round at a valuation of nearly $110 billion. Google's parent company Alphabet will provide approximately $13 billion to this self-driving taxi company, with the remaining portion coming from other investors, including new investors Sequoia Capital, DST Global, and Dragoneer Investment Group. Sources say that Waymo may complete this funding round in February. In October 2024, the company raised funds in its latest funding round at a valuation of over $45 billion.