Wayve secures £25m from the British Business Bank as part of a $1.2bn Series D round
The round was co-led by Eclipse, Balderton and SoftBank Vision Fund 2.
Wayve develops foundational AI software that equips vehicles with autonomous driving capabilities. The company is based in London, UK.
The British Business Bank has committed £25m to Wayve as part of a wider $1.2bn Series D financing round. The investment forms part of the government-owned bank's push to support scaling domestic technology firms.
Eclipse, Balderton and SoftBank Vision Fund 2 co-led the round, with participation from several new and existing institutional backers, alongside major automotive manufacturers. The capital will enable the autonomous driving firm to advance its technology and transition toward commercial deployment.
Wayve intends to use the proceeds to further develop its platform, supporting upcoming commercial robotaxi trials with Uber and the integration of its AI driver into passenger vehicles from 2027.
From the founder
"Today’s investment is a big vote of confidence in the growth potential of Wayve, a great British business that is scaling here and expanding across the world. This funding round will cement the future for the firm, securing jobs, boosting growth and the economy."
Peter Kyle
Business Secretary at Wayve
Investor perspective
"We are making larger investments in high growth companies like Wayve to support the UK’s most promising businesses to start, scale, and stay in the UK."
Leandros Kalisperas
Chief Investment Officer, British Business Bank
Use of funds
- 01Continue product development
- 02Fund research and development
Investors
Eclipse
Balderton
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SoftBank Vision Fund 2
Leandros Kalisperas
British Business Bank
Ontario Teachers’ Pension Plan
Baillie Gifford
Icehouse Ventures
Schroders Capital
Microsoft
NVIDIA
Uber
Mercedes-Benz
Nissan
Stellantis