Wayve Raises $1.5B, Valued at $8.6B for Uber Robotaxi Launch

London-based autonomous driving startup Wayve has secured 1.5 billion dollars in funding, valuing the company at 8.6 billion dollars and positioning it to launch commercial robotaxi services with Uber starting this year in the British capital.

The investment includes a 1.2 billion dollar Series D round led by Eclipse Ventures, Balderton Capital and SoftBank Vision Fund 2, with additional participation from institutional investors such as the Ontario Teachers Pension Plan, Baillie Gifford and the British Business Bank. Major technology firms Microsoft and Nvidia joined as backers, alongside ride-hailing company Uber and automakers Mercedes-Benz, Nissan and Stellantis. Uber also committed up to 300 million dollars more, contingent on Wayve meeting deployment milestones, to support the rollout of self-driving taxis on its network.

Founded in 2017 by Cambridge University researchers Alex Kendall and Amar Shah, Wayve specializes in an AI-based driving system that learns from real-world data to navigate diverse environments. Unlike many competitors that depend on detailed maps or predefined rules, Wayve's technology uses cameras, sensors and machine learning to make real-time...