Wayve secures $60m investment from AMD, Arm and Qualcomm

(Sharecast News) - Autonomous driving firm Wayve said on Wednesday that it has secured a $60m investment from Advanced Micro Devices (AMD), Arm and Qualcomm Ventures. The UK company, which is developing end-to-end embodied AI software that enables point-to-point navigation across different environments and vehicles, already raised $1.2bn in a Series D round In February.

The new investment will support integration across automotive compute platforms and continued deployment of the Wayve AI Driver in production systems for ADAS and automated driving, it said.

Co-founder and chief executive Alex Kendall said: "For embodied AI to scale, automakers need design choice and supply chain flexibility. We're building an AI Driver that works across the full automotive compute ecosystem, from architectures already used in millions of vehicles today to the platforms powering the next generation of automated vehicles.

"Expanding our relationships with leading silicon companies helps bring that into production at a global scale, and we're delighted to have these partners actively working with us on integration and deployment."

The Series D round was led by Eclipse, Balderton and SoftBank Vision Fund 2, and brought in new investment from Ontario Teachers' Pension Plan, Baillie Gifford, British Business Bank, Icehouse Ventures, Schroders Capital and other global institutional investors.

Microsoft, Nvidia and Uber also participated in the round, along with Mercedes-Benz, Nissan and Stellantis.