"Wayve said it has signed a letter of intent with Nvidia to evaluate a $500 million strategic investment in the U.K. startup's next funding round. Nvidia participated in Wayve's $1.05 billion Series C round that closed in May 2024. A Wayve spokesperson confirmed that the $500 million tentative commitment is part of Nvidia's AI startup investment pledge. Nvidia said during an event Thursday the £2 billion commitment would include funds from venture-capital investors Accel, Air Street Capital, Balderton, Hoxton Ventures and Phoenix Court."
"Wayve, which launched in 2017, has gained attention and investors for its automated driving system that uses a self-learning versus rules-based approach to its self-driving software. Wayve's end-to-end neural network doesn't require high-definition maps and only uses data to teach the vehicle how to drive. That data-driven learning approach is used for "eyes on" assisted driving and an "eyes off" fully automated driving system."
Nvidia pledged £2 billion to bolster the U.K. AI startup ecosystem, with funds including contributions from Accel, Air Street Capital, Balderton, Hoxton Ventures and Phoenix Court. Nvidia signed a letter of intent to evaluate a $500 million strategic investment in Wayve's next funding round and participated in Wayve's $1.05 billion Series C in May 2024. Wayve's self-learning, end-to-end neural network for automated driving avoids high-definition maps and relies on data to teach driving, supporting both "eyes on" assisted and "eyes off" fully automated systems. Wayve plans to sell its Embodied AI to automakers and tech companies.
#nvidia-uk-ai-investment #wayve-strategic-investment #self-learning-autonomous-driving #venture-capital
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