Wayve raises $1B to take its Tesla-like technology for self-driving to many carmakers

May 7, 2024

Wayve secures $1.05B in Series C for autonomous driving tech, plans global expansion.

: Wayve, a U.K.-based startup, raised $1.05 billion in Series C funding for its self-learning autonomous driving technology, led by SoftBank Group and supported by Nvidia and Microsoft. The company, founded in 2017, aims to offer its technology to various carmakers and expand globally, differentiating itself by focusing on a hardware-agnostic and data-driven approach. This funding marks the U.K.'s largest AI fundraise and signifies a major step in the development and distribution of autonomous driving and AI-assisted applications.

Wayve, a pioneering U.K. startup, has achieved a significant milestone by raising $1.05 billion in a Series C funding round, with major contributions from SoftBank Group, Nvidia, and existing investors like Microsoft. Founded in Cambridge in 2017, Wayve's unique approach to autonomous driving technology focuses on a self-learning system rather than the traditional rule-based systems. This groundbreaking method allows for a more adaptive and widespread application of autonomous technology, not just in vehicles but also in broader robotics applications, paving the way for a future reliant on intelligent machines. The company's plans to use this investment to further develop its product for both 'eyes on' assisted and 'eyes off' fully automated driving highlight its ambition to lead the transition towards autonomous mobility.

Wayve's strategy to partner with various automotive OEMs and robotics companies signifies a significant shift in the autonomous driving landscape, potentially offering a competitive edge over companies like Tesla that rely on proprietary data from their vehicles. The company's technology, termed