Wayve raises $1 billion to take its Tesla-like technology for self-driving to many carmakers [TechCrunch]
Tesla, Inc. (TSLA)
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Source: TechCrunch
This is the UK's largest AI fundraise ever and sits among the top 20 AI fundraises globally to date. Also participating in the raise was NVIDIA and existing investor Microsoft . Waye's early stage investors included Meta 's head of AI, Yann LeCun. Wayve, which was founded in Cambridge in 2017 raised $200m in a series B round in January last year led by Eclipse Ventures. The company plans to use the fresh capital injection to develop its product for “eyes on” assisted driving and “yes off” fully automated driving, other AI-assisted automotive applications, and expand operations globally. San Francisco has become known as the epicenter for autonomous driving roll-outs, with Alphabet-owned Waymo and GM-owned Cruise both operating services in the city. By contrast, Wayve's “end-to-end” self-driving system began its life around the tiny streets of Cambridge on an electric Renault Twizy. Since then, it has been training its model on delivery vehicles for the likes of companies lik
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