Mubadala invests in autonomous, self-driving technology company Waymo
Mubadala Investment Company (“Mubadala”), 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 a total of $2.25bn in Waymo, the self-driving technology company owned by Alphabet, the parent company of Google.
Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO and CEO of Alternative Investments and Infrastructure, commented, “Mubadala has built a strong portfolio of technology companies that are transforming sectors that are large, significant, and global. The partnership with Alphabet and the investment in Waymo is aligned with our focus in the transformation of mobility and transportation via autonomous technologies. In addition to partnering with one of the world’s leading technology companies, this is about investing and backing one of the strongest management and technical teams in the industry.“
The latest investment round follows a recent series of major 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, and over 10 billion miles in simulation. Engineers and technicians at Waymo’s Detroit factory, the world’s first factory dedicated to the mass production of L4 autonomous vehicles, have shipped the first vehicles (electric cars and Class 8 trucks) integrated with the fifth generation of hardware, providing all-new, more powerful computing and more capable sensing.
Since 2008, Mubadala has been an active investor in advanced technology, and today has global presence with offices in Abu Dhabi, London, New York and San Francisco. On the growth side, Mubadala has partnered with leading technology growth funds.