London-based autonomous driving startup Wayve has secured a massive $1.5 billion (£1.1 billion) investment, marking one of the largest funding rounds in British tech history.
The capital injection, led by a Series D round, catapults the company’s valuation to approximately $8.6 billion (£6.4 billion) and cements its position as a global frontrunner in the race to bring self-driving vehicles to commercial reality.
The funding round drew an elite roster of backers from the upper echelons of the global tech and automotive industries. High-profile investors include Microsoft, chip-making giant Nvidia, and Uber, the latter of which contributed additional funds specifically to accelerate its driverless taxi ambitions.
The deal also saw significant participation from institutional investors, including SoftBank Vision Fund 2, Baillie Gifford, and the British Business Bank, alongside major car manufacturers including Mercedes-Benz, Nissan, and Stellantis.
This financial boost is intended to supercharge Wayve’s commercial expansion, beginning with the launch of robotaxis in London later this year through a strategic partnership with Uber. Unlike many competitors that rely on rigid, pre-mapped routes, Wayve’s “supervised autonomy” software uses advanced artificial intelligence to learn from its environment in real-time.
By processing vast amounts of video and sensor data, the AI recognizes patterns to navigate complex urban settings – a capability CEO Alex Kendall claims is robust enough to handle the UK’s unique challenges, from the winding streets of central London to rural potholes.
The investment signals a major shift in market confidence, suggesting that autonomous technology has reached commercial maturity. Wayve plans to transition from its 2026 robotaxi trials to deploying its software in consumer vehicles by 2027, with the ultimate goal of making the technology “drive anywhere.” However, the road ahead is not without obstacles. Wayve faces stiff competition from US rivals, including Google’s Waymo and Lyft, both of which have set their sights on the UK market for later this year and 2027. Furthermore, the speed of rollout will depend heavily on whether government regulation can keep pace with the rapid technological advancements.
Despite these hurdles, Wayve’s leadership remains bullish on the future of transport, predicting that all cars will eventually become autonomous as the company targets a total addressable market spanning “every vehicle that moves.”
Wayve, the self-driving car firm set to launch robotaxis on UK roads, has raised 1.5 billion US dollars (£1.1 billion) from investors including Uber, Microsoft and chip giant Nvidia. It has secured 1.2 billion dollars (£890 million) through a funding round backed by the major tech firms, institutional investors and car makers, with Uber investing extra funds to help deliver its driverless taxi plans. The Series D funding round, which is one of the largest ever for a British start-up, values the London-based business at around 8.6 billion dollars (£6.4 billion). Standard
Gucci is facing a backlash after using AI to generate images to promote its forthcoming show at Milan Fashion Week. The images have been posted on social media – where users have questioned how using AI instead of human models and photographers is in keeping with the fashion house’s claim that it celebrates “creativity and Italian craftsmanship.” “Bleak days when Gucci can’t find a real human Milanese grandmother to wear an outfit from 1976,” said one in response to an AI-generated image of a glamourous older Italian woman, in a classic Gucci outfit. BBC
Analyst firm Gartner thinks talk of placing datacenters in space has reached “peak insanity,” because orbiting facilities can’t be run economically or satisfy demand for compute power on Earth. “Datacenters in space won’t analyze data on Earth for Earth applications for decades, if ever,” states a report published this week titled “Orbital Datacenters Won’t Serve Terrestrial Needs, So Focus on Earth,” penned by distinguished VP analyst Bill Ray.“Companies are wasting money by pouring funds into the orbital data center ‘bubble’ because the economics do not work,” the analyst wrote. Register
The Dark Sky weather app, with its ultra regional forecasts and rain-stopping predictions, was the best I’ve ever used – until Apple acquired it, integrated into Apple Weather app for iPhone and then shut it down. At the time, the team behind the app joined Apple to ease the transition. Now they’re back on the scene hoping to fill the void left behind by the standalone Dark Sky app. The new iPhone app (which will come to Android eventually) is called Acme Weather. The major unique selling point is the “alternate predictions”. Stuff
For years, the conversation around online safety centred on the “stranger danger” of chat rooms. However, a new risk has now emerged: the AI chatbot’s simulated empathy. New research from Vodafone reveals the scale of this shift. According to its study of 11-16-year-olds, a staggering 81% are now using AI chatbots. Most concerning to experts, however, is the emotional weight these interactions carry. Nearly a third (31%) of these young users feel the bot is an actual friend and 33% have shared secrets with an AI that they wouldn’t tell their parents, teachers, or even their closest human peers. ShinyShiny
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Seven or eight years ago, anyone consuming business tech news might have come across the phrase “the race to build autonomous vehicles.” In private conversations, company execs and startup founders I spoke to sometimes referred to the commercialization of autonomous vehicle technology as “a race.” The phrase seeped into reporting at the time — including some of my articles.
What we’ve learned is that this is not a race so much as a long, curved, and fragmented road — one that looks more like the fan of an alluvial plain than a racetrack — to develop and prove the technology works and make it a profitable business. It’s not a race against others as much as an internal contest with existential stakes.
But that doesn’t mean there aren’t real battlegrounds among those working on the technology, especially with robotaxis. Many might point to the number of cities a company has launched in as one indicator. I believe that while helpful, it’s a bit too vague and easy to manipulate.
Two recent news items got me thinking about more narrow and specific battlegrounds within cities: airports and public transit.
Airports were critical to the success of ride-hailing companies. Robotaxis are no different. Today, Waymo offers rides to and from Phoenix’s Sky Harbor Airport. And it’s clearly looking to unlock more.
This week, Waymo was granted a permit to start testing its autonomous vehicles at San Francisco International Airport, ahead of the launch of a commercial service. This comes just two weeks after Waymo was cleared to start testing at nearby San Jose Mineta International Airport — and as Tesla is also trying to elbow its way into offering ride-hail service to these airports.
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Meanwhile, Waymo and transit software company Viastruck a deal that could have far-reaching implications for cities. Government agencies that use Via’s software for public transit will be able to fold Waymo’s robotaxis directly into their public transit networks. The first city will be Phoenix suburb Chandler through its Chandler Flex fleet of on-demand, shared vehicle fleet.
This is meaningful, in terms of reach, although it may not be a cash cow for Waymo in the short term. As a Waymo spokesperson explained to me: When a traditional Chandler Flex vehicle isn’t available, riders may have the choice to book a trip with Waymo. Should a person choose to ride with Waymo, Chandler Flex will direct them to the Waymo app to hail a fully autonomous ride at a reduced price of $2 or less. At such a low price, it’s hard to see how this will push Waymo’s balance sheet into the black.
Still, it’s an important volume play. And Via CEO Daniel Ramot indicated in one interview that he hopes this spreads to hundreds of cities.
A little bird
Image Credits:Bryce Durbin
I gave you three little birds last week, and this week … welp, none that I could verify. Don’t fret — there will be more in the future.
U.K. startup Wayve has garnered buzz for locking up deals — and capital — for its generalized end-to-end approach to automated driving technology. You might recall that a year ago, Wayve raised $1.05 billion in a Series C round with SoftBank Group, Microsoft, and Nvidia participating.
Wayve is now working on a Series D round, and it appears that Nvidia is ready to plunk down more capital. In a letter of intent, which the two companies recently signed, Nvidia said it will evaluate making a $500 million strategic investment in Wayve’s next round. I spoke to Wayve CEO Alex Kendall, and he wouldn’t say exactly when this round is expected to close. But he did say “we’re working quickly towards it.”
Other deals that got my attention …
Divergent Technologies was once solidly in the automotive sector. These days, the advanced manufacturing company has positioned itself as a defense company and has locked up deals with Lockheed Martin, RTX, and General Dynamics. Now it’s raised $290 million, including $40 million in debt, to expand production of missile parts and other specialized components for the military.
EV Realty, a startup focused on providing charging for semitrucks, raised $75 million in a round led by private equity investor NGP. The startup will use the funds to build additional charging hubs throughout California.
Moove, the African vehicle-financing startup backed by Uber, is trying to raise more than $300 million in a round with a post-valuation of more than $2 billion, Bloomberg reported, citing anonymous sources.
XL Batteries, a Marlborough, Massachusetts-based startup developing flow batteries for energy storage, raised $7.5 million from Merrin Investors.
Notable reads and other tidbits
Image Credits:Bryce Durbin
Hyundai Motor Groupis intent on growing, and North America is central to its plan. During its investor day, the Korean automaker said it wants to increase annual sales from 4.17 million in 2025 to 5.55 million by 2030. In the short term (meaning for this year), the company shared new targets for an increase in revenue of between 5% and 6% and an operating profit margin of between 6% and 7%.
To get there, Hyundai is investing capital, including putting $2.7 billion over three years into expanding the total production capacity of the Hyundai Motor Group Metaplant America in Georgia. The company said “electrified vehicles” (that includes 18 new hybrid models by 2030) are expected to account for 60% of total sales, reaching 3.3 million units, with significant growth anticipated in North America, Europe, and Korea.
Rivian officially broke ground on its long-planned factory near Atlanta.
Stellantisended plans to produce the all-electric Ram 1500 REV pickup truck, citing low demand for full-size EV trucks; however, it’s holding on to the extended-range Ramcharger, which is now confusingly being renamed to Ram 1500 REV.
Tesla said it will redesign its door handles so they’re less likely to trap people inside their cars. The decision came a day after the National Highway Traffic Safety Administration opened an investigation into claims that Tesla’s door handles become inoperable in certain situations on Model Y SUVs. It also follows an investigation by Bloomberg that exposed the problem.
Meanwhile in Australia, Tesla recalled Powerwall 2 home batteries in the country after the company received reports of fires that led to “minor property damage.”
Uber will test using drones for Uber Eats deliveries in some U.S. markets by the end of this year, part of a new partnership with Israeli startup Flytrex.
Waymo is launching a commercial robotaxi service in Nashville in 2026, and it’s partnering with Lyft to expand its reach.
One more thing …
Speaking of Wayve, I thought it was worth reminding y’all that the startup’s co-founder and CEO, Alex Kendall, will be joining us onstage at TechCrunch Disrupt 2025. The event will be held October 27 to October 29 at Moscone West in San Francisco. Register here to join more than 10,000 startup and VC leaders at Disrupt.
Hace un par de semanas Bill Gates fue invitado a transportarse en un vehículo autónomo por las calles de Londres. Después de haber realizado un complejo trayecto por estrechas calles de la ciudad para ir a comprar fish& chips en un restaurante, el fundador de Microsoft declaró que estamos cerca de alcanzar un punto de inflexión.
Gates se subió a un Jaguar operado por la startup británica de inteligencia artificial, Wayve, acompañado por el cofundador y CEO de la empresa, Alex Kendall, y por Theepa, una operadora de seguridad que iba sentada al volante, aunque sin tocarlo.
El vehículo recorrió las calles de la ciudad en una hora de mucho tránsito y con actividad no solo de autos y autobuses, sino que también de ciclistas y peatones. El auto condujo de manera autónoma hasta el restaurante, dejando a Gates visiblemente emocionado.
“¡Esto es el mundo real! Les doy crédito por escoger una de las situaciones más difíciles que he visto para un vehículo autónomo”, dijo Gates.
Casi al mismo tiempo subió una nota a su sitio, Gates Notes, en la que explicó que el día en el que los vehículos autónomos sean una realidad “llegará más temprano que tarde. Hemos logrado un tremendo progreso en vehículos autónomos, o AV, en los últimos años, y creo que alcanzaremos un punto de inflexión en la próxima década. Cuando suceda, los AV cambiarán el transporte tan dramáticamente como la PC cambió el trabajo de oficina. Gran parte de este desarrollo ha sido posible gracias al progreso realizado en inteligencia artificial (IA) en general”.
¿Por qué son distintos los vehículos de Wayve?
En el video Kendall explica a Bill Gates qué es lo que hace diferente a la inteligencia artificial utilizada por sus vehículos: el deep learning (aprendizaje profundo), un tipo de aprendizaje automatizado que utiliza algoritmos para funcionar de manera similar al cerebro humano. Más que programar al vehículo con una interminable serie de reglas para intentar predecir todas las posibles situaciones con las que le vehículo se podría enfrentar, la idea es que el sistema aprenda sobre la marcha y utilice esa información para el futuro, tal cual lo hacemos los humanos.
En la página web de la empresa se explica: “Nuestra solución utiliza el aprendizaje profundo para resolver los desafíos de la conducción autónoma, eliminando la necesidad de pilas robóticas costosas y complejas que requieren mapas altamente detallados y reglas programadas. El resultado es una solución algorítmica basada en datos que aprende de la experiencia para conducir en cualquier entorno, incluso en lugares nuevos, sin programación explícita. Llamamos a este enfoque centrado en la IA de próxima generación: AV2.0”.
Según Wayve su modelo de inteligencia artificial posee la habilidad para adaptarse de manera apropiada a datos nuevos que nunca ha visto.
