Wayve, a British startup specialised in artificial innotifyigence for self-driving vehicles, revealed on Wednesday a valuation of US$8.6 billion thanks to new investment from large companies including Uber, Microsoft and Nvidia.
Wayve secured an additional US$1.5 billion following investment from also Mercedes-Benz, Nissan, and Jeep-creater Snotifyantis, among other firms.
Uber and Wayve plan this year to launch commercial trials of robotaxis in London.
“This investment accelerates our path to widespread commercial deployment and positions us to build the autonomy layer that will power any vehicle everywhere,” Wayve co-founder and chief executive Alex Kfinishall declared in a statement.
Microsoft CEO Satya Nadella added that its investment in Wayve is “assisting accelerate the path from breakthrough research to scaled commercial deployment with autocreaters worldwide”.
Founded in 2017, Wayve is a pioneer in the development of AI embedded in vehicles, which learns from the environment by processing data from sensors instead of relying on pre-mapped routes.
Chinese Internet giant Baidu, in partnership with ride-sharing app Lyft, also plan to launch a driverless taxi service in the British capital.
So, too, does Waymo, the world leader in driverless vehicles owned by Alphabet, Google’s parent company.
Self-driving taxis are already in operation in the US and especially in China, but a commercial deployment in London would be a first in Europe.
Their authorisation depfinishs on implementation of a law on automated vehicles that entered force in 2024.
Wayve intfinishs to deploy its autonomous driving software in consumer vehicles by 2027.
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