Wayve Secures $1 Billion Investment from Nvidia, SoftBank, Microsoft, and Others

British startup Wayve announced on Tuesday that it had gathered $1.05 billion in funding. This investment round was led by SoftBank from Japan, with participation from new investor Nvidia and existing investor Microsoft.

This big funding boost shows people believe in Wayve’s self-driving car technology. The company, based in Cambridge, wants to make self-driving cars that people can trust and use daily.

Wayve’s vision: Build autonomous tech for millions, integrating seamlessly into everyday life.

Alex Kendall, one of Wayve’s founders, said they want to make self-driving technology that solves the industry’s challenges in reaching everyone.

Wayve, started in 2017, is among many companies working on self-driving cars. Unlike Tesla, which makes its cars, Wayve provides its self-driving technology to other companies, like retailers and carmakers.

The UK Prime Minister lauds Wayve, highlighting the UK’s leadership in self-driving tech and innovation.

Wayve’s technology uses cameras and sensors to help cars steer cities safely without human control. They focus on developing “embodied AI” for self-driving cars, which means the AI can understand and handle unexpected situations on the road like people crossing.

British Prime Minister Rishi Sunak praised Wayve’s achievement, saying it shows the UK’s leadership in technology. He highlighted the UK’s history of innovation and its role in developing new technologies like AI and self-driving cars.

The UK government also shared that between 2018 and 2022, the self-driving car sector attracted £475 million in investment and created 1,500 new jobs.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x