Wayve Secures $1Billion from SoftBank, Microsoft, and NVIDIA to Build AI for Self-Driving Cars
Wayve, a British unicorn, secured $1 billion from SoftBank, Microsoft, and NVIDIA, marking a major endorsement of its potential and the growth of the UK's self-driving vehicle and AI sectors.
From 2018 to 2022, the UK self-driving vehicle sector attracted £475 million in investment and created 1,500 jobs.
Projections suggest it could be worth £42 billion by 2035, potentially generating 38,000 skilled jobs.
The UK AI sector currently employs over 50,000 people, with a predicted market value of over $1 trillion by 2035.
Wayve is developing Embodied AI, which allows vehicles to dynamically learn from and interact with their environment, improving safety and efficiency by handling unexpected situations
Since its founding in 2017, Wayve has pioneered the development of end-to-end AI autonomous driving systems tested on public roads, supported by the UK’s regulatory frameworks that encourage innovation and safety.
The investment coincides with the upcoming passage of the UK's Automated Vehicles Bill, which will facilitate the safe deployment of autonomous vehicles, ensure rigorous safety testing, and clarify legal liabilities.
The investment has received praise from UK leaders, including the Prime Minister and the Secretary of State for Science, Innovation, and Technology, underscoring Wayve’s role in advancing UK’s leadership in AI and self-driving technology.
This funding will support Wayve's global expansion and reinforce the UK's position as a leader in developing cutting-edge AI solutions for self-driving technology, contributing to transportation innovation and economic growth.