U.K.unpilotedAutomotive company Wayve has secured more than $1 billion from three of the world's most influential tech companiesFinancingto commercialize its products. The C round was led by investor SoftBank, with participation from Nvidia and Microsoft.
The funds will help develop the startup's artificial intelligence software, which could make any vehicle driverless. This is the first time so far that a European AI startup has been given amaximumVenture Capital. The $1.05 billion funding round could value London-based Wayve at billions of dollars, although the company and investors have not disclosed specific figures.
Wayve was founded in 2017 by Alex Kendall (31) and Amar Shah, two PhD students at the University of Cambridge, who research machine learning, computational vision and robotics and wanted to explore a different approach to driverlessness.Wayve's AI software enables any vehicle to be driverless, bringing the automotive industry an innovative solution for the automotive industry.