UK's Wayve Sets Record with $1.05B Series C for AI Autonomous Tech

May 7, 2024, 12:36 PM

UK-based AI startup Wayve has successfully raised $1.05 billion in a Series C funding round, marking the largest investment ever in a UK AI company and the UK's largest AI fundraise. The round was led by SoftBank, with significant contributions from Nvidia and Microsoft. This funding aims to accelerate the development and deployment of Wayve's autonomous driving technology, which utilizes a self-learning system rather than traditional rule-based systems. Wayve's approach, likened to Tesla's, focuses on 'embodied AI' to enhance the autonomy of vehicles. The investment underscores the growing investor interest in AI-driven autonomous vehicle technologies and positions Wayve to expand its operations and influence in the automotive sector.