Wayve raised $1 billion in funding
Wayve has raised $1.05 billion in Series C financing led by SoftBank Group to bring its Tesla-like autonomous driving technology to many automakers. The company plans to use the new capital injection to develop its product for autonomous fully self-driving and other AI-enabled automotive applications.
British autonomous vehicle technology developer Wayne has made great progress in autonomous driving technologies, which have been tested for a long time.
Wayve, which is developing a self-learning system for autonomous driving rather than a rules-based system, closed $1.05 billion in Series C financing led by SoftBank Group.
Nvidia and existing investor Microsoft also participated in the increase. Wayve’s early-stage investors included Meta’s head of artificial intelligence, Yann LeCun.
Founded in Cambridge in 2017, Wayve raised $200 million in a Series B round led by Eclipse Ventures in January 2022, which led to the company’s $20 million Series A round in 2019.
The company plans to use the new capital injection to develop its product for fully autonomous driving and other AI-enabled automotive applications. The company plans to expand its operations globally.