Wayve secures USD 1.05 bn in Series C funding for advancing embodied AI

Wayve, market leader in Embodied artificial intelligence (AI), has successfully closed a Series C funding round, securing USD 1.05 billion. With this recent round of investment, led by SoftBank Group with additional contributions from NVIDIA and Microsoft, Wayve aims to go beyond the traditional perception of autonomous mobility and reshape it via embodied intelligence.

Embodied AI is the new frontier of innovation that supersedes the previous Generative AI and large language models. Through embedding the AI within vehicles and robots, Wayve can reshape how machines perceive, understand, and imitate human behaviours in real environments. The new approach will contribute to the increase in usability and safety of autopilot systems greatly.

Pioneering efforts in AV2.0

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Founded in 2017, Wayve has emerged as a trailblazer in the field of Embodied AI for autonomous driving. Notably, the company was the first to develop and test an end-to-end (e2e) AI autonomous driving system on public roads. This groundbreaking achievement has catalysed an industry-wide shift towards AI, known as ‘AV2.0’.

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Advancements in AI technology

Wayve’s research and development efforts have over time not only made it the market leader but also its products are of high quality and are leading in the field of AV2.0. The company has established vehicle-independent AI driving models for mapless autonomous driving, alomng with a pack of ingenious technologies, including fleet learning, data infrastructure, evaluation, and simulator platforms.

Collaboration for innovation

Wayve's collaboration with SoftBank, NVIDIA, and Microsoft is an example of an alliance between prominent organizations for pushing the bar of autonomous technology forward. The investment will support the R&D and release of Wayve's first range of products based on Embodied AI for automotive OEM industry that will enable them to succeed in delivering reliable and beneficial automated driving services.

Alex Kendall, Co-founder and CEO of Wayve, expressed confidence in the transformative potential of Embodied AI. He highlighted the company's commitment to developing autonomous technology that seamlessly integrates into everyday lives, unlocking extraordinary value for consumers worldwide.

Shaping the future of mobility

SoftBank, NVIDIA, and Microsoft share Wayve's vision of reshaping mobility through advanced intelligence. They recognise the transformative impact of AI in enhancing decision-making and safety standards in the automotive industry.

Strategic focus areas

The Series C investment will enable Wayve to develop and launch Embodied AI products for production vehicles. Additionally, the company will focus on scaling its foundation models, advancing Embodied AI research, and expanding operations and partnerships in new markets.

UK Prime Minister Rishi Sunak commended Wayve for its groundbreaking work in AI and autonomous driving. He highlighted the UK's leadership in technological advancements and the government's commitment to creating conducive economic conditions for innovation.