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 Series C round. This investment will be used to further develop and launch Wayve’s Embodied AI technology, which has the unique ability to learn from and adapt to human behavior.

Nvidia and Microsoft also participated in the funding round, with Nvidia joining as a new investor. This brings Wayve’s total funds raised to over $1.3 billion, making it the largest investment in a British startup focused on artificial intelligence technology.

Wayve, founded in 2017, aims to revolutionize autonomous driving with its AI technology that can navigate unpredictable situations that do not follow strict patterns or rules. CEO Alex Kendall highlighted that this technology will enable automakers and fleets to accelerate their transition from assisted to autonomous driving.

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

Wayve President Erez Dagan emphasized that their technology is designed to generalize driving knowledge from one scenario to another, addressing the challenge of handling unexpected incidents or “edge cases” that have stumped other self-driving companies. By leveraging the power of AI, Wayve aims to surpass human programming in handling these complex situations.

With major investments in autonomous startups becoming increasingly rare, Wayve’s success in securing this funding demonstrates the confidence investors have in their innovative approach to self-driving technology.