Wayve secures £837m Series C funding led by SoftBank to advance autonomous driving technology
The financing round was led by SoftBank with participation from NVIDIA and Microsoft to launch embodied AI products for vehicles.
Wayve develops foundational AI software that equips vehicles with autonomous driving capabilities. The company is based in London, UK.
Wayve has secured £837m in a Series C funding round led by SoftBank Group. The investment also drew participation from new backer NVIDIA alongside existing investor Microsoft.
The capital will support the company in advancing its embodied artificial intelligence research and launching its inaugural suite of automated driving products for automotive manufacturers. Funds will additionally be directed towards expanding international operations and scaling its foundation models.
The raise marks a notable milestone for the British autonomous driving sector, reinforcing domestic leadership in advanced artificial intelligence development. Wayve plans to leverage the resources to cement its position in the market for mapless driving technology.
From the founder
"At Wayve, our vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people's trust by seamlessly integrating into their everyday lives to unlock extraordinary value. This significant funding milestone highlights our team's unwavering conviction that Embodied AI will address the long-standing challenges the industry has faced in scaling this technology to everyone, everywhere. Our collaboration with SoftBank, NVIDIA, and Microsoft will help advance our mission to redefine driving with AI at the core. This investment will enable us to develop and launch our first Embodied AI products for the automotive industry, empowering OEMs to provide consumers with trustworthy and beneficial automated driving experiences."
Alex Kendall
Co-Founder and CEO at Wayve
Investor perspective
"AI is revolutionizing mobility. Vehicles can now interpret their surroundings like humans, enabling enhanced decision-making that promises higher safety standards. The potential of this type of technology is transformative; it could eliminate 99% of traffic accidents. SoftBank Group is delighted to be at the forefront of this effort with Wayve, as advanced intelligence redefines mobility and connectivity, contributing to a more convenient and safer society."
Kentaro Matsui
Managing Partner at SoftBank Investment Advisers, Head of the New Business Office at SoftBank Group and Board Member at Wayve, SoftBank
Use of funds
- 01Continue product development
- 02Fund research and development
- 03Expand into international markets
- 04Scale operations
