Waymo's first funding round reaches $3 billion

Amid much uncertainty in the broader mobility industry, Waymo has added fresh funding to its coffers.

The self-driving tech company said Tuesday it has raised an additional $750 million in an extension of its first external funding round. The addition brings outside investment in the Google-backed company to $3 billion.

New investors include T. Rowe Price Associates Inc., Perry Creek Capital and Fidelity Management & Research Co. Other investors were undisclosed.

"COVID-19 has underscored how fully self-driving technology can provide safe personal mobility and delivery services," CEO John Krafcik said in a written statement. "We're grateful these partners share our mission to make it safe and easy for people and things to get where they're going."

Waymo did not specify a valuation of the company. Investment bank Morgan Stanley estimated its value at $105 billion in September, though a year earlier, the firm had said Waymo was worth $175 billion.

Previous outside investors include private equity firm Silver Lake Partners, which led the round, along with Canadian Pension Plan Investment Board and Mubadala Investment Co.

A Waymo spokeswoman said the company remains open to further external investments.

"There are a number of parties who have expressed interest in investing in Waymo," she said. "Like any company, we always remain open to those conversations and maintain an open dialogue with potential investors."