Alphabet 's self-driving car unit Waymo on Monday said it raised a $16 billion funding round that values the company at $126 billion "post-money." The new funding is the latest move by Alphabet to fund Waymo's continued expansion to more markets. The new valuation is more than double what Waymo notched after its last funding round in October 2024. That was a series C round of $5.6 billion at a $45 billion valuation. Alphabet committed $5 billion in a multiyear investment to Waymo at the time. "​