Self-driving startup Wayve just raised $1 billion from Nvidia, SoftBank, Microsoft and more

British self-driving technology startup Wayve said it had raised $1 billion in a Series C funding round led by SoftBank.

The round was also backed by U.S. chipmaker Nvidia and software giant Microsoft, which is a major investor in AI firms.SoftBank The financing marks a major vote of confidence for the Cambridge-based firm. It also builds on the heaps of cash currently being deployed in the AI space."At Wayve, our vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people's trust by seamlessly integrating into their everyday lives to unlock extraordinary value," Alex Kendall, co-founder and CEO of Wayve, said in a statement.

"This significant funding milestone highlights our team's unwavering conviction that Embodied AI will address the long-standing challenges the industry has faced in scaling this technology to everyone, everywhere." Founded in 2017, Wayve is one of a multitude of startups looking to enable autonomous driving — technology that enables cars to effectively drive without humans at the helm.

Source: News Formal (newsformal.com)

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