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.