The London-based company’s US$1.05-billion Series C round was led by Japanese conglomerate SoftBank. New investor Nvidia and existing backer Microsoft also participated in the round. (The Logic)
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The London-based company’s US$1.05-billion Series C round was led by Japanese conglomerate SoftBank. New investor Nvidia and existing backer Microsoft also participated in the round. (The Logic)
Talking point: The company will use the funding to expand into new markets and build out the artificial intelligence of its autonomous-driving model for production vehicles. Wayve recently announced that Vancouver would be its third hub after Silicon Valley and London, as it tries to further its R&D with help from Canada’s AI scholars. Wayve CEO Alex Kendall said in a release it aims to garner peoples’ trust in autonomous driving. Companies like General Motors’s Cruise and Google’s Waymo have struggled to advance their robotaxi plans. For Microsoft, the investment also marks a further move further into the automotive business. Unlike rivals Google or Amazon’s Zoox, which have autonomous vehicle subsidiaries, Microsoft has made smaller deals across the industry.
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