Alphabet, a Google parent, led a $2.5bn PE funding round in Waymo, an American autonomous driving technology development company. The round had participation from investors Andreessen Horowitz, AutoNation, CPPIB, Fidelity Management & Research, Magna International, Mubadala Investment, Perry Creek Capital, Silver Lake, T. Rowe Price Associates, Temasek and Tiger Global. "With tens of millions of miles driven on public roads across 25 US cities, and tens of billions of miles driven in simulation, our experience has shown us, and our investors, the massive opportunity ahead. We’re building and deploying the Waymo Driver to serve riders, deliver parcels, move freight, and eventually, to empower personal car ownership," Waymo.