Autonomous car developer Waymo has snatched up its first external funding, with parent company Alphabet, Magna International and AutoNation all investing.

Internet and technology group Alphabet was among the investors that provided $2.25bn in funding for its US-based autonomous driving technology spinoff, Waymo, yesterday. Silver Lake, Canada Pension Plan Investment Board and Mubadala Investment Company co-led the round, which also featured automotive component manufacturer Magna International, car retailer AutoNation, which invested $50m, and Andreessen Horowitz. The…

The rest of this content is only accessible to Subscribers.

This content is only accessible to subscribers. If you are a subscriber, please sign in. Otherwise, if you would like to try before you buy and haven't previously taken out a free trial, you can do so below. You can also see details on subscriptions by clicking the Subscription Options button.