🏆 Deal of the Week · CW 19/2024
Wayve raised USD 1 billion in a Series C round; the valuation remains undisclosed. The round was backed by Microsoft, NVIDIA, and SoftBank. This funding round was recognised as Deal of the Week for KW 19/2024.
Wayve — key deal facts
| Company | Wayve |
| Founded | 2017 |
| Headquarters | London, United Kingdom |
| Amount raised | USD 1B |
| Valuation | Valuation Remains Undisclosed |
| Round | Series C |
| Investors | Microsoft, NVIDIA, SoftBank |
| Sectors | Autonomous Vehicles |
Who invested in Wayve?
The Series C was funded by Microsoft, NVIDIA, and SoftBank. The investor mix is notable for combining a major cloud platform provider, the world's leading AI chip manufacturer, and one of the most active late-stage technology investors globally. Together, these backers give Wayve access to compute infrastructure, AI hardware ecosystems, and deep capital reserves critical to scaling autonomous driving technology.
What does Wayve do?
Wayve Technologies Ltd is a British autonomous driving company founded in August 2017 by Amar Shah and Alex Kendall, two machine learning researchers from the University of Cambridge, with Alex Kendall serving as CEO. The company is headquartered in London, United Kingdom. Wayve develops end-to-end deep learning systems for self-driving vehicles, replacing conventional rule-based approaches and detailed 3D maps with a vision-based AI model trained directly from camera data. Its primary commercial product is the Wayve AI Driver, a mapless, vehicle-agnostic SaaS platform designed to bring all levels of driving automation to any vehicle.
Wayve valuation & multiples
No existing multiples analysis was provided for this deal, and the post-money valuation remains undisclosed, precluding EV/Sales or EV/EBITDA derivation at this time. As verified figures become available, transaction multiples will be benchmarked against comparable autonomous vehicle and AI software transactions. For current sector reference ranges, visit the Venionaire DealMatrix autonomous vehicles and mobility technology multiples pages.
Explore the benchmarks: Series C.
Frequently asked questions
How much did Wayve raise in its Series C?
Wayve raised USD 1 billion in its Series C round, announced in KW 19/2024.
What is Wayve's valuation?
Wayve's valuation was not disclosed in connection with this Series C funding round.
Who invested in Wayve?
The Series C was funded by Microsoft, NVIDIA, and SoftBank.
When was Wayve founded and where is it based?
Wayve was founded in August 2017 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.