Autonomous mobility tech startup Wayve has raised $200 million in a Series B round.
Investment in the London-based company was led by Eclipse Ventures, with a number of new global financial investors also involved.
Wayve, which has now raised $258 million, says the raise will help it scale as well as extend its “next generation technology globally.”
Alex Kendall, co-founder and CEO of Wayve, says: “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.”
Seth Winterroth, partner at Eclipse Ventures, says: “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."
Many autonomous driving specialists have attracted significant funding in the past year. Most recently, Vay announced a $95 million investment, while 42dot announced $88.5 million in a Series A round.