The startup developing self-driving technology said that the funding round was led by Silver Lake, Canada Pension Plan Investment Board, and Mubadala Investment Company.
AutoNation told Reuters it contributed $50 million to the funding round. The breakdown of the rest of the investment couldn't be immediately ascertained.
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," Waymo CEO John Krafcik said in a statement.
Why It Matters
The Google shoot-off that later became a stand-alone business under Alphabet has been aggressively expanding for over a year.
Waymo started pulling safety drivers out of its self-driving ridesharing service Waymo One in Arizona last October. With its new Waymo Via service, the Tesla Inc. competitor intends to capture the goods delivery sector.
The California-based company has announced a host of partnerships over the last year as well, including with ride-hailing company LYFT Inc. (NASDAQ: NYFT) and goods delivery firm United Parcel Service Inc. (NYSE: UPS).
Alphabet's Class A shares closed 3.51% higher at $1,386.32 on Monday and traded slightly lower at $1,383.99 in the after-hours session.
Alphabet's Class C shares closed 3.72% higher at $1,389.11 and traded another 0.2% higher in the after-hours session at $1,392.15.
Photo Credit: Courtesy of Waymo.