Alex Kendall, 29, is the co-founder and CEO of Wayve, a new autonomous driving company.
Source: Wave
British startup Wayve said on Tuesday it had raised $1.05 billion in an investment round led by Japan. Softbank Accelerate the development of its autonomous vehicle technology.
Series C funding round includes new investor U.S. chip maker Nvidia As well as existing investors and software giants Microsoftwhich is a major backer of artificial intelligence companies.
The financing marks a major vote of confidence in the Cambridge-based company. It also builds on the vast amounts of cash currently being deployed in artificial intelligence.
Alex Kendall, co-founder and CEO of Wayve, said: “At Wayve, our vision is to develop self-driving technology that not only becomes a reality in millions of vehicles, but also earns people’s trust by seamlessly integrating into their daily lives. , unlocking extraordinary value.
“This important funding milestone underscores our team’s unwavering belief that embedded artificial intelligence will solve the long-term challenges the industry faces in bringing this technology to everyone, everywhere.”
Founded in 2017, Wayve is one of many startups pursuing autonomous driving, technology that enables cars to drive efficiently without a human at the helm.
unlike TeslaWayve builds its own vehicles and licenses its self-driving technology to other companies, including retailers and automakers.
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