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Wayve raises USD 1.05 billion in Series C funding led by SoftBank
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May 7, 2024
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May 7, 2024

Wayve raises USD 1.05 billion in Series C funding led by SoftBank

Funding

  • Wayve, a UK-based autonomous vehicle tech company, has raised USD 1.05 billion in a Series C funding round led by SoftBank Group, with participation from NVIDIA and existing investor Microsoft. This brings the company's total funds raised to over USD 1.3 billion.

  • The company intends to use the funds to develop its autonomous and automated driving technologies and AI-assisted automotive technologies. It also plans to expand its operations globally.

  • The round ranks the UK’s largest AI fundraiser and features among the top 20 AI fund raises worldwide.

  • Analyst QuickTake: Wayve is one of the few companies that offers autonomous vehicle technologies for passenger vehicles and last-mile delivery applications; hence, it is featured in our Auto Tech and Last-mile Delivery Automation hubs. With today’s fund raise, Wayve leapfrogs as the second-highest funded privately held company in the Auto Tech space, after US- and China-based autonomous vehicle tech company Pony.ai, which has raised USD 1.33 billion to date. The company has also become the second-highest funded startup in the Last-mile Delivery Automation space after peer autonomous delivery vehicle developer Nuro, which has raised USD 2.1 billion to date.

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