UK-based Wayve, an autonomous vehicle startup that develops artificial intelligence applications for self-driving cars and a training platform for systems that adapt to new driving domains fast and safely wherever they are in the world, raised 200 million on 18th January 2022.
Investors: Eclipse Ventures led the investment round, backed by D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures and Linse Capital. Moreover, Microsoft, Virgin, and early-stage investors Compound, Balderton Capital and Ocado Group participate in the round. Additionally, angel investors include Sir Richard Branson, Rosemary Leith, Linda Levinson, David Richter, Pieter Abbeel, and Yann LeCun. Since its inception, the startup has raised over USD 258 million, including previous rounds.
Purpose of funding: The startup is scaling its team, building a Level 4+ autonomous vehicle prototype, deploying the prototypes on partner fleets to launch last-mile delivery pilot programs, and developing the data infrastructure using the funding.
About Wayve
Founded in 2017 by Alex Kendall, and Amar Shah, Wayve is located in London, UK. Wayve is an autonomous vehicle startup that develops artificial intelligence applications for self-driving cars and a training platform for systems that adapt to new driving domains fast and safely wherever they are in the world. The startup’s signature product, AV2.0, offers fleet operators the most flexible AV system available. The system combines the advantages of a camera-first, lean sensing system with the deep learning capabilities of a comprehensive system.
The startup utilises machine learning technology to build an automated vehicle platform that can be adapted to different cities, use cases, and vehicles. Additionally, the startup works with major companies such as Ocado Group, Asda, and DPD. Using their experience, this startup is building the next generation of autonomous technology.
What the founder has to say
“We were the first team to develop the scientific breakthroughs in deep learning to build autonomous driving technology that can easily scale to new markets using a data-learned approach. Today, we have all of the pieces in place to take what we have pioneered and drive AV2.0 forward. We have brought together world-class strategic partners in transportation, grocery delivery and compute, along with the best capital resources to scale our core autonomy platform, trial products with our commercial fleet partners, and build the infrastructure to scale AV2.0 globally,” said Alex Kendall, Co-founder and CEO at Wayve.
What the investor has to say
“As the industry struggles to solve self-driving with traditional robotics, it is becoming increasingly clear that AV2.0 is the right pathway to build a scalable driving intelligence that can help commercial fleet operators deploy autonomy faster. Wayve is breaking new ground by building AVs that can adapt to driving in new cities, previously unseen in training. As the leaders in this field, they have assembled an exceptional team of machine learning experts and AV veterans to drive AV2.0 to reality,” said Seth Winterroth, Partner at Eclipse Ventures.
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