Mubadala invests in autonomous, self-driving tech company Waymo
The investment shows that “autonomous tech will revolutionise mobility and transportation over the next decade”
Abu Dhabi-based sovereign investor Mubadala Investment Company (Mubadala) has joined a consortium comprising Silver Lake and other investors such as the Canada Pension Plan Investment Board, Magna International, and Andreessen Horowitz, to invest a total of $2.25bn in Waymo, the self-driving technology company owned by Alphabet, the parent company of Google.
The latest investment round follows a recent series of operational and technical milestones achieved by Waymo. Its vehicles have now self-driven more than 20 million miles on public roads across over 25 cities, in addition to more than 10 billion miles in simulation.
Since 2008, Mubadala has been an active investor in advanced technology, and today, it has global presence with offices in Abu Dhabi, London, New York, and San Francisco.
Commenting on the investment, Mubadala’s deputy group CEO, and CEO of Alternative Investments and Infrastructure, Waleed Al Mokarrab Al Muhairi, said: “Mubadala has built a strong portfolio of technology companies which are transforming sectors that are large, significant, and global. The investment in Waymo, and partnership with Alphabet, is based on our conviction that autonomous technologies will revolutionise mobility and transportation over the next decade.
The CEO of Waymo, John Krafcik, added: “We've always approached our mission as a team sport, partnering with Alphabet, our business partners, and the communities we serve to build and deploy the world's most experienced driver. Today, we're expanding that team, adding financial investors and important strategic partners who bring decades of experience investing in and supporting successful technology companies building transformative products.”