Alphabet, AutoNation and Magna International all returned to reinvest in the driverless car technology developer having backed a $3.2bn round last year.

Waymo, the autonomous driving technology developer spun off by US-headquartered internet and technology group Alphabet, raised $2.5bn in funding yesterday from investors including its former parent company.

Automotive retailer AutoNation and automotive component manufacturer Magna International also took part in the round, as did investment and financial services group Fidelity Management & Research.

Sovereign wealth funds Mubadala and Temasek filled out the round together with Andreessen Horowitz, Canada Pension Plan Investment Board, Perry Creek Capital, Silver Lake, Tiger Global Management…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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