
The investment round follows a recent series of major operational and technical milestones
by Kudakwashe MuzoriwaAbu 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.
MOST READ
INVESTMENT
Aldar to invest AED 2 million in Abu Dhabi...INVESTMENT
Oil drops 31 per cent as price war erupts...INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
Bahrain considers stake sell in oil assetsINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Dubai’s W Motors seeks funds to go electricINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from Turkey