Wayve, a UK-based autonomous vehicle tech company, secured an undisclosed amount of funding from Uber as an extension to its previously announced USD 1.05 billion Series C round. The investment is part of a strategic partnership between the two companies.

The funding and partnership aim to accelerate Wayve's work with global OEMs to enhance consumer vehicles with advanced driver assistance and automated driving capabilities. The companies also plan to develop globally scalable Level 4 autonomous vehicles for future deployment on Uber's network (i.e., fully autonomous vehicles limited to specific locations and/or conditions).

Analyst QuickTake: This partnership between Uber and Wayve would potentially expand Uber's existing partnerships in the autonomous vehicle sector and increase utilization of Wayve’s autonomous vehicles. Uber is already conducting fully autonomous taxi rides in Phoenix in partnership with Aplhabet’s self-driving tech unit, Waymo. It also partnered with General Motors’ autonomous vehicle division, Cruise , earlier this month to integrate Cruise’s robotaxis into Uber's service in 2025.