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Mubadala joins consortium for $2.25bn investment in Waymo

Mubadala joins consortium for $2.25bn investment in Waymo
Waymo, a self-driving technology company, is owned by Google's parent company Alphabet

UAE – Mubasher: Mubadala Investment Company has partnered with a consortium to invest $2.25 billion in Waymo, a self-driving technology company owned by Alphabet, the parent company of Google.

The consortium includes Silver Lake and other investors such as the Canada Pension Plan Investment Board, Magna International, and Andreessen Horowitz, according to a press release on Tuesday.

Commenting on the investment in Waymo, Mubadala’s Deputy Group CEO and CEO of Alternative Investments and Infrastructure, Waleed Al Mokarrab Al Muhairi, said: “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. “

Meanwhile, the CEO of Waymo, John Krafcik, remarked: “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.”