Wayve Secures Record $1.05B for AI-Driven Self-Driving Tech in Europe

May 7, 2024
Wayve Secures Record $1.05B for AI-Driven Self-Driving Tech in Europe
  • Wayve, a London-based self-driving car startup, has secured $1.05 billion in Series C funding, the largest AI company investment in Europe.

  • The funding round was led by SoftBank, with Nvidia and Microsoft also investing, elevating Wayve's total funding to $1.3 billion.

  • Europe's AI sector receives a notable boost from this investment, amidst a year with a sluggish start.

  • Wayve's unique approach to autonomous driving technology relies on machine learning from experience and observation, diverging from reliance on pre-programmed maps.

  • The investment underscores Wayve's leadership in Embodied AI for autonomous vehicles, signifying a significant leap for the UK AI industry.

  • Wayve's CEO Alex Kendall views the funding as a testament to the UK's robust AI ecosystem and anticipates growth and success for more AI firms in the region.

Summary based on 19 sources


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