The company Wayve, specialized in autonomous vehicle technology, has obtained financing of more than $1 billion to promote the development of the next generation of vehicles based on artificial intelligence.
This financing round, led by Japan’s SoftBank, has reached $1.05 billion, also backed by Nvidia, Microsoft and other key investors, marking the largest investment recorded to date in a European AI startup.
UK advances in the development of autonomous vehicles
With this capital injection, the company, founded in 2017 in London, aims to primarily develop and launch pioneering “embedded AI” technology for autonomous vehicles in the United Kingdom. This innovation will allow automated vehicles to learn and adapt to the real-world environment, including the ability to deal with unpredictable situations, such as unexpected movements of drivers or pedestrians.
Alex Kendall, co-founder and CEO of the company, highlighted the importance of this investment in expanding its operations globally and promoting the UK’s robust AI ecosystem. SoftBank ‘s support, with Kentaro Matsui joining the board, demonstrates a shared commitment to the vision of a world with fewer traffic accidents.
Embedded AI and its Global Impact
The company’s current technology is already integrated into various vehicles, including electric models such as the Jaguar I-Pace and Ford Mustang MachE, as part of advanced driver assistance systems. In the broader context, the autonomous vehicle industry is experiencing significant growth, with major manufacturers investing in this technology.
This record investment in the company reflects the growth and promise of the autonomous vehicle sector, not just in the UK, but globally. Continued innovation in this field could lead to significant advances in road safety and transportation efficiency.
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Source: theguardian
Photo: Shutterstock
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