Wayve Raises $1.05 Billion in Series C

by Kay Aloha Villamor in May 7th, 2024

Wayve, a London, UK-based artificial intelligence (AI) startup for autonomous driving, has closed $1.05 billion in Series C funding. 


The round was led by SoftBank Group (“SoftBank”), with contributions from new investor NVIDIA and existing investor Microsoft. 

SoftBank Group is an investment holding company that includes stakes in AI, smart robotics, IoT, telecommunications, internet services, and clean energy technology providers. The SoftBank Group invests in breakthrough technology to improve the quality of life for people around the world. 

As part of the final transaction, SoftBank has joined Wayve’s Board of Directors.

Wayve Use of Funds 

The investment supports Wayve in fully developing and launching the first Embodied AI products for production vehicles. As Wayve’s core AI model advances, these products will enable OEMs to efficiently upgrade cars to higher levels of driving automation, from L2+ assisted driving to L4 automated driving. 

About Wayve 

Founded in 2017, Wayve is a developer of Embodied AI technology for automated driving. Their advanced AI software and foundation models for autonomy enable vehicles to perceive, understand, and navigate any environment, enhancing the usability and safety of autonomous driving systems. Wayve is developing mapless and hardware-agnostic Embodied AI products for automakers and fleet owners, accelerating the path from assisted to automated driving. They have conducted trials on UK public roads since 2018 and partnered with UK delivery fleets from Asda and Ocado Group. Backed by top investors like SoftBank Group, NVIDIA, and Eclipse Ventures, Wayve’s mission is to reimagine mobility with embodied intelligence. 

Funding Details 

Company: Wayve Technologies Ltd. 

Raised: $1.05B 

Round: Series C 

Funding Month: May 2024 

Lead Investors: SoftBank Group 

Additional Investors: NVIDIA, Microsoft 

Company Website: https://wayve.ai/ 

Software Category: AI Driver 

Source: https://wayve.ai/press/series-c/

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