UK AI Firm Wayve Nets Record $1bn Investment Led by SoftBank with Nvidia and Microsoft Support

UK-based Wayve, a trailblazing start-up in the realm of autonomous driving technology, has successfully closed a Series C funding round, amassing more than $1 billion. This financial boost, which stands as the largest investment ever in a UK AI enterprise, was spearheaded by SoftBank with notable backers including tech giants Nvidia and Microsoft.

Wayve's Autonomous Driving Ambitions

Launched in 2017, Wayve has its sights set on revolutionizing the autonomous driving landscape. The company has developed a deep learning autonomous driving system intended for real-world public streets. Wayve's base in London is a hub for innovation, as they work on what they call 'GPT for driving'—AI foundation models capable of navigating any environment much like a human would.

Thanks to the latest financial injection led by SoftBank, Wayve is preparing to launch its advanced Embodied AI products tailored for production vehicles. With a core AI model that continues to evolve, Wayve envisions these developments will facilitate an upgrade to enhanced automation levels for cars.

Leadership and Goals

Alex Kendall, the co-founder and CEO of Wayve, envisions a future where autonomous technology is integrated into a vast array of vehicles, earning public trust through seamless operation. Kendall sees this significant Series C funding as a testament to his team's commitment to making autonomous driving accessible and scalable on a global scale.

The collaboration with heavyweight tech partners like SoftBank, Nvidia, and Microsoft is poised to bolster Wayve's quest to redefine the concept of driving with AI at its heart.

Increased AI Momentum in the UK

UK Prime Minister Rishi Sunak has acknowledged the Series C funding achievement, pointing out that it's a record-breaking moment for a UK AI company. Sunak's statements add weight to the UK's aspirations of being a foremost AI superpower, having already secured the position of having the third-highest number of AI businesses and private AI investments globally.

Wayve's journey, which began with road trials in the UK in 2018 and involved alliances with delivery services like Asda and Ocado Group, has since attracted a diverse group of investors beyond SoftBank, Nvidia, and Microsoft, including Eclipse Ventures and Fly Ventures.

Industry Perspectives

Eclipse Ventures partner and Wayve board member Seth Winterroth commends Wayve for transitioning from a once contentious concept of end-to-end AI to a game-changer for the industry. Winterroth asserts that Wayve has demonstrated a determination to challenge traditional models and the capability to make a significant, enduring impact on the world.

The integration of AI into crucial areas such as driving is complex and requires specialized model architectures and an extensive learning period through diverse datasets, as well as the need for supercomputing resources and intelligent regulations that balance consumer safety with the promotion of innovation.

AI, investment, autonomy