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Wayve, a London-based autonomous mobility start-up, has announced its $200 million Series B backed by a prominent group of global financial and strategic investors. This latest round of funding brings total equity raised to over $258 million since inception.
Wayve is pioneering an artificial intelligence (AI) led approach to autonomous vehicles (AVs) on a global scale.
New investors, such as Microsoft and Baillie Gifford, join strategic investor Ocado Group and a prominent list of angel investors that include AI and industrial leaders, such as Sir Richard Branson.
The new capital raised will enable Wayve to continue to grow its team, develop a Level 4+ AV prototype for passenger vehicles and delivery vans, scale its deployments on partner fleets to commence last-mile delivery pilots, and develop the data infrastructure to improve its core autonomy platform at fleet scale.
Wayve’s AV2.0 technology is designed to be the most adaptable AV system for fleet
It combines the advantages of a camera-first sensing suite with an end-to-end deep learning system that continually learns from driving data provided by Wayve’s partner fleets, including Ocado Group, Asda, and DPD.
Alex Kendall, Co-founder and CEO, Wayve says: “We were the first team to develop the
scientific breakthroughs in deep learning to build autonomous driving technology that can
easily scale to new markets using a data-learned approach. Today, we have all of the pieces
in place to take what we have pioneered and drive AV2.0 forward. We have brought together world-class strategic partners in transportation, grocery delivery and compute, along with the best capital resources to scale our core autonomy platform, trial products with our commercial fleet partners, and build the infrastructure to scale AV2.0 globally.”
The Wayve team is headquartered in London with its fleet of vehicles testing in cities across the UK.
Wayve aims to be the first to deploy autonomy in 100 cities