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03 March 2020
BUSINESS

Abu Dhabi’s Mubadala invests in self-driving firm Waymo

Since 2008, the state investor has been an active investor in advanced technology and has a global presence with offices in Abu Dhabi, London, New York and San Francisco

The investment round follows a recent series of major operational and technical milestones

by Kudakwashe Muzoriwa

Abu Dhabi’s Mubadala Investment Company was part of a consortium that invested $2.25 billion in Waymo, the self-driving technology company owned by Alphabet, the parent company of Google.

“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, the CEO of Waymo.

Mubadala stated that it has joined Silver Lake and other investors including the Canada Pension Plan Investment Board, Magna International and Andreessen Horowitz as part of a consortium to invest in Waymo.

Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO and CEO of Alternative Investments and Infrastructure, said, “The investment in Waymo and partnership with Alphabet, is based on our conviction that autonomous technologies will revolutionize mobility and transportation over the next decade.”

The investment round follows a recent series of major operational and technical milestones. Waymo is now widely considered the leader in developing self-driving technology. Founded in 2009 as a small project by Google, Waymo is now widely considered the leader in developing self-driving technology. 


RELATED STORIES: Waymo Mubadala Investment Company Alphabet Google

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