Electronics and Semiconductors

UK self-driving startup gets backing from Virgin and Microsoft

19 January 2022
Wayve’s self-driving system allows OEMs to scale commercial deployments in other cities compared to conventional self-driving platforms. Source: Wayve

Wayve, a London-based startup, has raised $200 million in funding for future autonomous vehicles commercially on a global scale.

Eclipse Ventures led the round of funding with additional investors Microsoft and Virgin.

Wayve’s system is designed to be an adaptable self-driving system for fleet operators using artificial intelligence and a camera-first sensing suite. A deep learning system continuously learns from petabyte-scale driving data.

“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,” said Alex Kendall, co-founder and CEO of Wayve.

Machine learning in the system will help build a scalable autonomous platform that can adapt its driving intelligence to new cities, use cases and vehicle types. This allows the system to scale commercial deployments in other cities quicker than conventional self-driving platforms, Wayve said.

“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,” said Seth Winterroth, partner of Eclipse Ventures. “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.”

To contact the author of this article, email PBrown@globalspec.com


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