Wayve, a London-based startup, has secured $1 billion in a Series C funding round. This investment will support the development of “Shaped AI” products tailored for autonomous driving technologies. As a leader in artificial intelligence, Wayve aims to advance the capabilities of self-driving cars through this significant financial boost.
Shaped AI investment
This investment marks the largest funding ever received by an AI startup in Europe, boasting prominent investors like SoftBank from Japan, Nvidia, and Microsoft, who spearheaded this funding round. Various companies globally are exploring different methodologies for advancing autonomous technology. Wayve differentiates itself by heavily relying on AI, being hardware-agnostic, and avoiding the use of mapping.
Wayve defines “Embodied AI” as the incorporation of advanced AI into devices and robots to revolutionize how machines interact with, comprehend, and learn from human behavior in real-world scenarios. Since its founding in 2017, Wayve claims to be at the forefront of this technology, having been the first to develop and field-test a fully integrated deep learning autonomous driving system on public streets.
The company has also caught the eye of celebrities, including Bill Gates, who had a memorable experience with a Wayve autonomous vehicle (AV) in London last year. Presently, Wayve is developing fundamental models for autonomous operation, which it likens to “ChatGPT for driving.” These models are designed to enable vehicles to perceive, process, and navigate any environment. Looking ahead, Wayve intends to create products suitable for integration into original equipment manufacturers’ (OEMs) vehicles, though no formal partnerships have been established yet.
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