The funding round is the largest investment ever in a U.K. AI startup, bringing Wayve's total amount raised to over $1.3 billion. Wayve's AI technology has already been integrated into six different vehicles, including the Jaguar I-PACE and Ford Mustang MachE. The company plans to push out over-the-air updates to these vehicles as its technology evolves. Despite challenges in the autonomous driving industry, Wayve is working to solve these issues with its embodied AI system, which learns driving rules and patterns on its own.
Key takeaways:
- Wayve Technologies Ltd., a U.K.-based autonomous driving startup, has raised $1.05 billion in a funding round led by SoftBank Group Corp., Nvidia Corp., and Microsoft Corp.
- The funding will be used to accelerate the development of Wayve's AI-based self-driving technology and launch its first production models.
- Wayve's technology is based on 'embodied AI', which learns from human behavior and adapts accordingly, enabling vehicles to navigate better in unpredictable situations.
- The company's AI technology has already been integrated into six different vehicles, including the Jaguar I-PACE and Ford Mustang MachE, and will continue to evolve through over-the-air updates.