Wayve raises $1.05 billion Series C for AI-powered automated driving
SoftBank Group led the financing, joined by NVIDIA and Microsoft, to bring Wayve’s embodied AI technology to production vehicles.
Wayve announced the close of a $1.05 billion Series C on 7 May 2024. SoftBank Group led the round, with participation from new investor NVIDIA and existing investor Microsoft.
The British company planned to use the financing to develop and launch its first embodied AI products for production vehicles. Its approach trains driving models from data rather than relying on a fixed set of rules for every road situation.
The investment would also support foundation model development, simulation and evaluation tools, and expansion into new markets. Wayve aims to supply its driving technology to vehicle manufacturers, with software that can work across different hardware configurations.
Use of funds
Develop and launch embodied AI products for production vehicles
Scale autonomous driving foundation models
Expand international operations