The UK’s self-driving startup Wayve has just raised more than a billion dollars to build the next generation of cars that are driven by AI. This round of funding was led by Softbank in Japan. Nvidia and Microsoft, two chip companies in California, also backed the company.
The money will help Wayve make and sell its first AI system for self-driving cars in the UK. The AI system will let these cars learn from their surroundings in real life, even if that means guessing what drivers or walkers will do next.
Alex Kendall, co-founder and CEO of Wayve, says, “This investment will help us launch our embodied AI products and grow our business around the world.” He went on to say, “It sends a strong message to the market about how strong the UK’s AI ecosystem is, and we look forward to seeing more AI companies here grow and succeed.”
Kentaro Matsui is an example of how Wayve and SoftBank work together because he is a managing partner at SoftBank Investment Advisers and also sits on the board of Wayve.
“We have a vision of a peaceful world free from traffic accidents,” he said. When our team and Masa found out that we had the same goal, we were all excited and felt like we needed to help. There is a lot of pride in our work on this project.
Wayve’s technology is already built into electric cars like the Jaguar I-Pace and the Ford Mustang MachE. Tests of self-driving cars have been done in the UK, and the transport secretary says that Britain’s roads will be ready in two years.
Over the past few years, automakers have been putting money into self-driving cars. In the next few weeks, this bill will become law. It will clear the way for a “transport revolution” in the safe use of self-driving cars.
People say that the deal will make the UK an AI leader and show that it is ahead of other countries in the tech world.
