In a monumental funding round led by SoftBank, London’s Wayve secures a staggering $1.05 billion, marking a milestone in British startup history and reflecting sustained investor enthusiasm for artificial intelligence endeavors.
Joining forces in the Series C funding are notable players Nvidia and existing investor Microsoft, both deeply entrenched in the AI landscape. With this latest injection, Wayve’s total funding climbs to $1.3 billion, although specifics regarding valuation remain undisclosed.
Distinguishing itself from counterparts like Alphabet-owned Waymo, Wayve pioneers a self-driving car technology fueled by embodied AI. This innovative approach involves real-world objects, such as vehicles, dynamically interacting with their surroundings and continually assimilating knowledge through artificial intelligence software, without heavy reliance on lidar, radar, or high-definition 3D maps.
The essence of Wayve’s business model lies in democratizing its technology for adoption by various automotive manufacturers and robotics firms. CEO and co-founder Alex Kendall emphasizes the vision of empowering global auto manufacturers with their AI, thereby facilitating the acquisition of diverse data from different markets and vehicles, thereby enhancing the intelligence and adaptability of embodied AI.
