July 20, 2024

Wayve, a London-based startup working on AI systems for autonomous vehicles, has raised $1bn. The colossal funding round marks the largest single investment in a European AI startup.

Japanese conglomerate SoftBank led the funding round alongside tech giants Nvidia and Microsoft. Wayve did not disclose its valuation following the investment. 

Founded in Cambridge in 2017, Wayve is developing so-called embodied AI systems for self-driving cars. Unlike pure software AI like ChatGPT, embodied AI serves as the brain for physical objects like vehicles. It lets them see, think, and drive on their own. The technology also works for robots, or any other moving object for that matter.  

“Embodied AI will address the long-standing challenges the industry has faced in scaling this technology to everyone, everywhere,” said Alex Kendall, co-founder and CEO of Wayve.