Wayve, a London-based start-up specializing in artificial intelligence systems for autonomous vehicles, secured $1 billion in funding led by SoftBank and with participation from Microsoft, Nvidia, and others. Founded in 2017 by Alex Kendall, Wayve focuses on ’embodied A.I.’ systems and aims to commercialize its research by partnering with automobile manufacturers, with plans to expand operations beyond British roads.
Wayve, a London-based start-up specializing in artificial intelligence systems for autonomous vehicles, announced on May 6, 2024, that it had raised $1 billion in funding. This substantial investment was led by SoftBank, with participation from Microsoft, Nvidia, and others. Previous investments in Wayve include backing from Yann LeCun, Meta’s chief A.I. scientist.
Co-founded in 2017 by Alex Kendall, a Cambridge University doctorate student, Wayve focuses on “embodied A.I.” systems that enable machines to make real-time decisions. Unlike other autonomous vehicle developers that rely heavily on high-definition maps and lidar sensors, Wayve uses a combination of cameras, sensors, and modern car technology to navigate various driving environments.
Wayve has conducted testing on British roads since 2018 and plans to expand its operations further. The company employs about 300 people and aims to commercialize its research by partnering with automobile manufacturers.
British Prime Minister Rishi Sunak lauded the start-up as a pioneering force in the U.K.’s tech industry. The newly raised funds will be instrumental in transforming Wayve’s technology into market-ready products.
