Rather than launching its own fleet of vehicles, Wayve’s approach is to partner with carmakers to integrate its embodied AI system into their existing vehicles. According to the company, deploying such a scalable and financially viable AI-driven solution will accelerate the transition from driver assistance systems to full autonomy.
This latest investment will give this approach a boost. As Kendall said: “With the support of visionary investors and strategic partners, we are poised to accelerate our embodied AI product.
“Our collaboration with Microsoft and Nvidia, leveraging Microsoft Azure to scale our AI models and advanced embedded computing platforms like Nvidia Drive Orin and Thor, underscores our commitment to leading the AI-driven transformation in automotive technology.”
This investment deal is significant for the UK, which has ambitions of being a world leader in the AI sector. Prime Minister Rishi Sunak said: “The fact that a homegrown British company has secured the biggest investment yet in a UK AI start-up is a testament to our leadership in this industry.
“We already have the third-highest number of AI companies and private investment in AI in the world, and this announcement anchors the UK’s position as an AI superpower.”
Wayve’s investment comes as the UK’s Automated Vehicle Bill is set to come into force in the coming weeks. This bill, with its comprehensive legal framework, will focus on the safe deployment of self-driving vehicles in the UK. For instance, all self-driving vehicles will be required to undergo robust safety testing before they are permitted to drive on UK roads.
Kendall said: “The UK’s progressive testing framework has supported our rapid development of cutting-edge AI, and we’ve been pleased to work with the government on the Automated Vehicles Bill, which gives investors confidence that the UK is truly a leader in AI and automated vehicles.”
Transport secretary Mark Harper said: “Our Automated Vehicles Bill paves the way for their [self-driving cars] safe use in the UK, and opens the door for investment into innovative British companies like Wayve – putting the UK at the forefront of a growing global industry. This is an important part of our plan to grow the economy and create high-quality jobs into the future.”
