Self-driving start-up Wayve secures $1.2B from NVIDIA, Microsoft, others
What's the story
Wayve, a leading player in the autonomous driving space, has raised $1.2 billion in its latest funding round. The investment was led by Eclipse, Balderton, and SoftBank Vision Fund 2. It also witnessed participation from global automakers Mercedes-Benz, Nissan, and Stellantis, as well as institutional investors. Microsoft, NVIDIA, and Uber, who have previously backed the start-up, also participated in this funding round.
Tech strategy
Wayve's end-to-end deep learning approach
Founded in 2017, Wayve has pioneered an end-to-end deep learning approach for autonomous driving. The company uses a self-learning software layer built on an end-to-end neural network that doesn't rely on high-definition maps and only uses data to teach the vehicle how to drive. This technology is used for two products: an "eyes-on" assisted-driving system and an "eyes-off" fully automated-driving system applicable to robotaxis or consumer vehicles in certain environments.
Tech versatility
Agnostic software can work with any sensors or maps
Wayve's automated-driving software is agnostic, meaning it can work with any sensors or maps. The system captures data from whatever sensors are on the vehicle and makes driving decisions accordingly. This adaptability is further enhanced by Wayve's software being able to run on any chip its OEM partners already have in their vehicles.
Strategic alliance
Partnership with NVIDIA
NVIDIA has been a close development partner of Wayve since 2018. The start-up's Gen 3 platform, launched last fall, uses the in-vehicle compute autonomous vehicle development kit called NVIDIA Drive AGX Thor. This platform will enable Wayve to deliver eyes-off advanced driving-assistance systems and Level 4 driverless features for city streets/highways.
Business approach
Selling 'embodied AI' to automakers and tech companies
Unlike other players in the automated driving space, Wayve doesn't want to operate its hands-off driving-assistance system or "eyes-off" fully automated-driving system. Instead, it is selling its "embodied AI" to automakers and tech companies like Uber. This business model gives Wayve access to the largest addressable market possible for its technology.
Strategic partnerships
Nissan and Uber's plans for Wayve's technology
Nissan plans to use Wayve's self-driving software in its cars starting 2027. Uber also plans to start commercial trials this year with vehicles equipped with Wayve's software. The two companies have a long-term partnership, which will see them deploy together in over 10 markets worldwide.