26. February 2026
Wayve Technology Raises Record 12 Billion For London Robotaxis Expansion Plan
Wayve Technologies Ltd., a London-based company, has closed a Series D round of $1.2 billion, bringing its post-money valuation to $8.6 billion. The funding will be used to accelerate the commercialization of its “end-to-end AI platform” for autonomous driving, which promises to revolutionize the way vehicles are designed and operated.
The funding is backed by prominent investors including global tech leaders Eclipse, Balderton, and SoftBank Vision Fund 2, as well as new investors Ontario Teachers’ Pension Plan, Baillie Gifford, British Business Bank, Icehouse Ventures, Schroders Capital, and other global institutional investors. This significant investment marks a shift for Wayve, which was founded in 2017 by Cambridge researchers Alex Kendall and Amar Shah.
Wayve’s AI Driver, the company’s flagship technology, is built on an “embodied AI” framework that learns from driving data and aims to generalize across different cities and vehicle types without extensive local tuning. This approach has been successfully tested in over 500 cities worldwide, often without prior training in those locations, illustrating its ability to adapt to new environments.
The company’s business model involves licensing its software directly to automakers, providing tools to customize driving models for specific vehicles and brands. By partnering with manufacturers and mobility platforms rather than vertically integrating, Wayve asserts that its approach enables autonomous vehicle technology to scale globally while maintaining control over the deployment process.
Wayve plans to conduct robotaxi trials with Uber in London this year, marking a significant milestone in the company’s efforts to bring autonomous driving technology to the masses. The partnership will see Uber deploy its AI Driver in L4-capable vehicles from participating automakers, while Wayve will own and operate the fleet. The companies aim to create a scalable model for ride-hailing using mass-produced AVs.
“We are very proud to continue to deepen our partnership with Wayve,” said Dara Khosrowshahi, CEO of Uber. “Wayve’s powerful end-to-end approach is purpose-built for scale, safety, and effectiveness, and we’re excited to work with them across multiple OEMs and geographies.”
The investment in Wayve has been recognized globally, with notable investors including Microsoft and NVIDIA participating in the funding round. Satya Nadella, chairman and CEO of Microsoft, praised Wayve’s work, stating, “Wayve is pushing the frontier of embodied AI for autonomous driving, and Azure supports the scale, reliability, and safety needed to bring that innovation into the real world.”
Other prominent automakers, including Mercedes-Benz, Nissan, and Stellantis, have also invested in Wayve, highlighting the growing interest in autonomous driving technology among major manufacturers.
Wayve’s leadership has stated that the company will focus on scaling its AI system globally, supporting partners through deployment, while keeping an eye on long-term milestones such as further technology development and, potentially, a public listing in the future.
As autonomous driving technology continues to advance, Wayve’s innovative approach to scaling its AI platform promises to bring robotaxis to cities around the world, transforming the way people move around. With its strong funding round and strategic backing, Wayve is well-positioned to achieve its ambitious goals and shape the future of transportation in a rapidly evolving industry.