Wayve, a UK self-driving startup, secures $1 billion funding led by SoftBank

British self-driving technology startup Wayve has secured a massive $1.05 billion in funding, with SoftBank Group leading the charge to propel the development and launch of its cutting-edge Embodied AI technology. This technology is designed to learn from and adapt to human behavior, a significant advancement in the autonomous driving industry.

Nvidia and Microsoft also joined the funding round, contributing to a total of over $1.3 billion raised by Wayve. This marks the largest investment in a British startup focused on artificial intelligence technology, showcasing the growing interest and confidence in Wayve’s innovative approach.

Wayve, founded in 2017, aims to revolutionize autonomous driving by enabling vehicles to navigate unpredictable situations that do not follow strict patterns or rules. CEO Alex Kendall highlighted that this technology will accelerate the transition from assisted to fully autonomous driving for automakers and fleets.

The startup’s AI technology is already integrated into various vehicle platforms, including electric vehicles like the Jaguar I-PACE and Ford Mustang MachE. As the self-driving technology evolves, Wayve plans to upgrade its AI through over-the-air software updates, ensuring continuous improvement and adaptation.

Wayve President Erez Dagan emphasized the importance of leveraging AI to generalize driving knowledge across different scenarios, addressing the challenge of handling unexpected incidents or “edge cases.” This approach sets Wayve apart in the competitive autonomous driving landscape, where the ability to predict and assess risk quickly is crucial.

With major investments in autonomous startups becoming increasingly rare, Wayve’s significant funding round signals a vote of confidence in its innovative technology and its potential to reshape the future of self-driving vehicles.