Uber Invests in UK's Wayve to Accelerate Autonomous Vehicle Development
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On Fri, 30 Aug, 8:09 AM UTC
8 Sources
8 Sources
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Uber backs Wayve as it targets level 4 autonomous vehicles
Soon you might be able to hail a self-driving car straight to your door Uber has made an investment in Wayve, as the ride-hailing giant positions itself to profit from the moment when (or if?) autonomous vehicles finally go mainstream. The undisclosed investment is an extension of Wayve's massive $1bn funding round, announced in May. Under the deal, Uber has taken a minority stake in the London-based self-driving startup. "Wayve's advanced embodied AI approach holds a ton of promise as we work towards a world where modern vehicles are shared, electric, and autonomous," said Uber's CEO Dara Khosrowshahi. Founded in Cambridge in 2017, Wayve fits a regular car with a range of cameras and sensors that interpret the surrounding environment. This data gets fed to Wayve's so-called "embodied AI" system. Unlike many other self-driving AI models, which have to be trained on each possible driving scenario and are confined to geofenced limits, Wayve's AI is more free to act and learn on its own. The more the AI "drives," the better it becomes at responding to hazards. Uber will integrate Wayve's autonomous technology into consumer vehicles "to enable a range of automated driving capabilities," it said in a statement. This integration will start at the lower end of the autonomy spectrum and slowly ramp up to level 4 self-driving cars. Vehicles in this category are so capable of driving themselves they technically need no driver at all. However, there are often geographical restrictions on where this self-driving tech can be used, so drivers are still needed. Level 4 vehicles are often also have their top-speeds limited, and can only driver faster under the control of a human. "Wayve is building a 'general purpose' driving Al that can power all levels of driving automation in any type of vehicle, anywhere in the world," said Alex Kendall, co-founder and CEO of Wayve. Wayve will equip existing vehicles with Level 2+ advanced driver assistance and then Level 3 and 4 automated driving capabilities. Uber eventually intends to launch self-driving vehicles on its app equipped with Wayve's tech. When exactly that will happen largely depends on regulation. Even though the over-hyped autonomous vehicle market has faced a slump in funding amid some high-profile accidents, Uber has aggressively sought to become the ride-hailing platform for people looking to experience self-driving cars. The San Francisco based firm announced a similar tie-up with US autonomous driving startup Cruise last week. Uber has also offered rides in vehicles operated by Google autonomous car spinoff Waymo.
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UK's Wayve secures strategic investment from Uber to further develop self-driving tech
Uber is making a strategic investment into Wayve as an extension of the U.K.-born startup's previously announced $1.05 billion Series C round. The partnership will also see the two companies work with automakers to integrate Wayve's AI into consumer vehicles that will one day operate on the ride-hail giant's platform. The tie-up comes a week after Uber announced Cruise's robotaxis would join the Uber app in 2025. It's the latest in a series of autonomous driving technology partnerships that Uber has secured over the past couple of years. Details about Uber's partnership with Wayve are scant, but the startup has made a splash since it launched in Cambridge in 2017. Over the past two years, Wayve has raised over $1.3 billion from backers including SoftBank Group, Nvidia and Microsoft. The startup is developing a self-learning, rather than a rule-based system, for autonomous driving - similar to Tesla's AI. Also like Tesla, Wayve doesn't rely on lidar sensors. It uses cameras and radar to help its AI perceive the world around it. Unlike Tesla, Wayve builds its AI so that other automakers can equip consumer vehicles with its Level 2+ advanced driver assistance system, as well as Level 3 and Level 4 automated driving capabilities. The SAE defines Level 3 and 4 self-driving systems as ones that can operate autonomously under certain conditions. The driver still needs to be ready to take over a Level 3 system, but not with a Level 4 system. Wayve is currently still testing its L2+ technology on Jaguar I-Paces and Ford E-Transits with safety drivers behind the wheel, and has not begun testing L3 and L4, according to a Wayve spokesperson. Wayve did not provide more details as to the nature of its deal with Uber. In a statement, the company said the partnership "envisions future Wayve-powered self-driving vehicles being made available on Uber's network." Neither Wayve nor Uber shared a timeline for Wayve-powered vehicles joining Uber's app; whether those vehicles would be fully self-driving or just equipped with advanced driving assistance technology; or the size of Uber's investment. In a statement, Alex Kendall, Wayve's CEO and co-founder, did say the partnership would help to "massively ramp up our AI's fleet learning, ensuring our AV technology is safe and ready for global deployment across Uber's network." Kendall also noted that together, Wayve and Uber would "work with automotive OEMs to bring autonomous driving technologies to consumers sooner." Uber's CEO Dara Khosrowshahi said in a statement that Wayve's approach to AI "holds a ton of promise" as the company works towards "a world where modern vehicles are shared, electric and autonomous." "We're thrilled to bring Wayve on as a partner to work alongside automakers as we continue to build out Uber as the best network for self-driving vehicles," said Khosrowshahi. In recent weeks, Uber has been positioning itself as the ideal partner for self-driving startups looking to commercialize. Waymo's robotaxis joined the Uber platform in Phoenix last year. Uber has also partnered with autonomous sidewalk delivery robot companies - like Serve Robotics, Cartken and Coco - and autonomous freight startups - like Waabi and Aurora - to bring self-driving capabilities to Uber Eats and Uber Freight.
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Uber takes another big autonomous step with investment in AI tech firm Wayve
Uber Technologies (NYSE:UBER) has made a strategic investment in Wayve as an extension of the AI tech company's previously announced Series C fundraising round. With the additional funding and support from Uber, Wayve said it plans to accelerate its work with global OEMs to enhance consumer vehicles with Level 2+ advanced driver assistance and Level 3 automated driving capabilities, while also working towards the development of globally scalable Level 4 autonomous vehicles for future deployment on Uber. "The partnership envisions future Wayve-powered self-driving vehicles being made available on the Uber network in multiple markets around the world, bringing Wayve's leading technology to Uber's more than 150 million monthly global users." Wayve CEO Alex Kendall said the company is building a general purpose driving Al that can power all levels of driving automation in any type of vehicle, anywhere in the world. Uber CEO (UBER) Dara Khosrowshahi noted that Wayve's advanced Embodied AI approach holds a "ton of promise" as the company works towards a world where modern vehicles are shared, electric and autonomous. The amount of the investment by Uber (UBER) into Wayve was not disclosed. Wayve was co-founded in 2017 by Alex Kendall, a Cambridge University doctorate student specializing in computer vision and robotics. The London-based startup focuses on developing Embodied AI technology for self-driving vehicles, aiming to create systems that can interact with and learn from their surroundings. Since its inception, Wayve has made significant strides in the autonomous vehicle industry, attracting attention from major investors. In January 2022, the company raised $200 million in a Series B funding round led by Eclipse Ventures.
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UK's Wayve secures strategic investment from Uber to further develop self-driving tech | TechCrunch
Uber is making a strategic investment into Wayve as an extension of the U.K.-born startup's previously announced $1.05 billion Series C round. The partnership will also see the two companies work with automakers to integrate Wayve's AI into consumer vehicles that will one day operate on the ride-hail giant's platform. The tie-up comes a week after Uber announced Cruise's robotaxis would join the Uber app in 2025. It's the latest in a series of autonomous driving technology partnerships that Uber has secured over the past couple of years. Details about Uber's partnership with Wayve are scant, but the startup has made a splash since it launched in Cambridge in 2017. Over the past two years, Wayve has raised over $1.3 billion from backers including SoftBank Group, Nvidia and Microsoft. The startup is developing a self-learning, rather than a rule-based system, for autonomous driving - similar to Tesla's AI. Also like Tesla, Wayve doesn't rely on lidar sensors. It uses cameras and radar to help its AI perceive the world around it. Unlike Tesla, Wayve builds its AI so that other automakers can equip consumer vehicles with its Level 2+ advanced driver assistance system, as well as Level 3 and Level 4 automated driving capabilities. The SAE defines Level 3 and 4 self-driving systems as ones that can operate autonomously under certain conditions. The driver still needs to be ready to take over a Level 3 system, but not with a Level 4 system. Wayve is currently still testing its L2+ technology on Jaguar I-Paces and Ford E-Transits with safety drivers behind the wheel, and has not begun testing L3 and L4, according to a Wayve spokesperson. Wayve did not provide more details as to the nature of its deal with Uber. In a statement, the company said the partnership "envisions future Wayve-powered self-driving vehicles being made available on Uber's network." Neither Wayve nor Uber shared a timeline for Wayve-powered vehicles joining Uber's app; whether those vehicles would be fully self-driving or just equipped with advanced driving assistance technology; or the size of Uber's investment. In a statement, Alex Kendall, Wayve's CEO and co-founder, did say the partnership would help to "massively ramp up our AI's fleet learning, ensuring our AV technology is safe and ready for global deployment across Uber's network." Kendall also noted that together, Wayve and Uber would "work with automotive OEMs to bring autonomous driving technologies to consumers sooner." Uber's CEO Dara Khosrowshahi said in a statement that Wayve's approach to AI "holds a ton of promise" as the company works towards "a world where modern vehicles are shared, electric and autonomous." "We're thrilled to bring Wayve on as a partner to work alongside automakers as we continue to build out Uber as the best network for self-driving vehicles," said Khosrowshahi. In recent weeks, Uber has been positioning itself as the ideal partner for self-driving startups looking to commercialize. Waymo's robotaxis joined the Uber platform in Phoenix last year. Uber has also partnered with autonomous sidewalk delivery robot companies - like Serve Robotics, Cartken and Coco - and autonomous freight startups - like Waabi and Aurora - to bring self-driving capabilities to Uber Eats and Uber Freight.
[5]
Uber invests in UK startup Wayve to speed up self-driving projects
LONDON (Reuters) - Ride-hailing platform Uber will invest in Wayve to help the British self-driving technology startup work with major automakers to speed up the development of its systems, the two companies said on Thursday. The companies did not disclose the size of the investment. But they said it would be added to the $1.05 billion in Series C funding Wayve announced in May, which was led by SoftBank Group. Wayve has developed "Embodied AI" technology that it says can learn from and adapt to human behaviour. The company said it would use the funding and support to accelerate the development of Level 2 and Level 3 driver assistance and automated driving functions with automakers, "while also working towards the development of globally scalable Level 4 autonomous vehicles for future deployment on Uber." Level 2 systems are designed to perform basic tasks autonomously, such as staying in lane or maintaining a set distance from other cars, while Level 3 cars are meant to drive themselves, but require the driver to pay attention. Level 4 autonomous vehicles are designed to drive themselves under most circumstances and take action on their own in dangerous situations. While automakers and autonomous vehicle software companies have had more success with basic driver assistance functions such as lane-keeping systems, developing vehicles that can truly drive themselves has proven more difficult and much more expensive than many had expected. Among the main challenges is that self-driving software systems have lacked humans' ability to predict and assess risk quickly, especially when encountering unexpected incidents or "edge cases" where autonomous vehicles get stuck because they cannot work out what to do. (Reporting By Nick Carey; Editing by Andrew Heavens)
[6]
Uber takes stake in SoftBank-backed self-driving tech startup Wayve
LONDON -- Uber and British artificial intelligence startup Wayve announced a partnership Thursday that will see the two firms collaborate on autonomous driving technology. As part of the deal, Uber is also investing an undisclosed amount into Wayve for a minority stake, the companies said in a statement. The investment is an extension of Wayve's $1 billion Series C funding round announced earlier this year, which was led by Japanese tech investor SoftBank. U.S. chipmaker Nvidia and software giant Microsoft also invested in Wayve's Series C. "Wayve is building a 'general purpose' driving Al that can power all levels of driving automation in any type of vehicle, anywhere in the world," Alex Kendall, Wayve's co-founder and CEO, said in the statement. He said that, together with Uber, Wayve is "excited to work with Automotive OEMs [original equipment makers] to bring autonomous driving technologies to consumers sooner." Uber CEO Dara Khosrowshahi added that the two companies "share a vision of reimagining mobility for the better." "Wayve's advanced Embodied AI approach holds a ton of promise as we work towards a world where modern vehicles are shared, electric and autonomous," Khosrowshahi said. Uber will integrate Wayve's AV2.0 technology -- an algorithm-based product that enables vehicles to drive themselves using data from the physical environment -- into consumer vehicles "to enable a range of automated driving capabilities," according to the statement. Wayve's AV2.0 product is an end-to-end AI solution that allows automakers to equip existing vehicles with Level 2+ advanced driver assistance and Level 3 and 4 automated driving capabilities. Different levels of vehicle autonomy are determined by SAE International, a global standards body for the mobility engineering industry. In the future, Uber intends to launch self-driving vehicles on its app equipped with Wayve's tech, the companies said. Previously, Uber had its own self-driving car unit, but it sold the division in 2020 to Aurora Technologies, an Amazon-backed self-driving car firm. As part of that deal, Uber said it would invest $400 million into Aurora. The ride-sharing giant recently announced a similar tie-up with Cruise, a General Motors-backed autonomous driving startup, to offer driverless rides on its ride-hailing network. Uber has also offered rides in vehicles operated by Waymo, the Google self-driving spinoff, as part of a commercial tie-up. In 2019, Waymo announced a similar partnership with Lyft, a competitor to Uber.
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Uber's latest self-driving partner is an AI startup backed by Nvidia and Microsoft
An AI self-driving car startup raised $1 billion from Microsoft, Nvidia and Softbank Though Uber did not say how much it invested in Wayve, its latest round was previously valued at $1.05 billion. The seven-year-old company had raised a $200 million Series B in 2022 and a $20 million Series A in 2019. "Wayve is building a 'general purpose' driving Al that can power all levels of driving automation in any type of vehicle, anywhere in the world," Wayve CEO Alex Kendall said in a statement. Wayve's self-driving vehicles are expected to eventually become available on Uber's network in multiple markets around the world, the companies said in a statement. Wayve has previously said that its Series C funding will help it expand into new markets, attract global talent, and build geographically diverse data assets. The firm has conducted trials on public roads in the U.K. since 2018. In May, the U.K. passed a law outlining standards for the rollout of autonomous vehicles in the country by 2026. The influx of cash will also support Wayve's development and launch of so-called "embodied AI," which it describes as the "next frontier of AI innovation." The technology is intended to allow vehicles to interact with and learn from human behavior in real-world environments. Wayve says its technology has the potential to enhance the safety of autonomous vehicles, which -- if perfected -- can make the roads much safer for humans. It's another sign that Uber is betting its future on self-driving vehicles, especially as companies such as Google's Waymo, General Motor's Cruise, and Tesla continue to develop their technology. "Wayve's advanced Embodied AI approach holds a ton of promise as we work towards a world where modern vehicles are shared, electric and autonomous, Uber CEO Dara Khosrowshahi said in a statement. "We're thrilled to bring Wayve on as a partner to work alongside automakers as we continue to build out Uber as the best network for self-driving vehicles." Uber in 2020 sold off its self-driving car project to Aurora Innovations AUR, which agreed to let its driverless vehicles eventually operate on Uber's services. The firms have since teamed up to work on driverless trucks as part of Uber's freight division. Uber also has a partner in Waabi, the driverless truck startup led by Raquel Urtasun, who previously led Uber's research into driverless vehicles.
[8]
Uber Pumps Capital Into Nvidia-Backed Wayve's Series C Funding Round - NVIDIA (NASDAQ:NVDA), Uber Technologies (NYSE:UBER)
In a recent strategic move, Uber UBER has announced a partnership with Wayve, a U.K.-based startup Embodied AI for autonomous driving. The ride-hailing giant has also invested in Wayve's Series C funding round. What Happened: As per a press release on Thursday, Wayve and Uber have teamed up to accelerate the development of self-driving technology. Uber's investment is an extension of Wayve's ongoing Series C fundraising round. With Uber's financial support, Wayve aims to expedite its collaboration with global Original Equipment Manufacturers (OEMs) to equip consumer vehicles with Level 2+ advanced driver assistance and Level 3 automated driving capabilities. The company also plans to create globally scalable Level 4 autonomous vehicles for future deployment on Uber. Wayve's approach to Autonomous Vehicle (AV) technology focuses on mapless end-to-end AI, enabling automated vehicles to operate without geofenced limits. The partnership envisions Wayve-powered self-driving vehicles on the Uber network in multiple markets worldwide, bringing Wayve's leading technology to Uber's over 150 million monthly global users. See Also: JD Vance Lashes Out At Kamala Harris For Allowing Chinese Battery Plant In Michigan: She Wants To Pay Communist Party To Build Factories On American Soil Alex Kendall, Co-founder and CEO of Wayve, expressed his enthusiasm about the partnership, stating that it would "massively ramp up our AI's fleet learning, ensuring our AV technology is safe and ready for global deployment across Uber's network." Why It Matters: This partnership follows Uber's previous investments in autonomous vehicle technology. In June, Uber, along with Nvidia Corp. NVDA and Volvo, invested $200 million in autonomous trucking startup Waabi. In August, Uber announced a strategic partnership with General Motors' Cruise to bring autonomous vehicles to its platform. This partnership shed light on Uber's future business model for autonomous car makers. Read Next: Boeing's Former CEO Dennis Muilenburg Said In 2017 His Company Will Beat Elon Musk To Mars. 7 Years Later, It Has Been Forced To Abandon NASA Astronauts At ISS, Who Will Now Be Rescued By SpaceX Image via Shutterstock This story was generated using Benzinga Neuro and edited by Pooja Rajkumari Market News and Data brought to you by Benzinga APIs
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Uber has made a strategic investment in Wayve, a UK-based AI startup, to advance self-driving technology. This partnership aims to accelerate the development of autonomous vehicles and enhance Uber's position in the rapidly evolving transportation industry.
Uber's Strategic Investment in Wayve
Uber Technologies has taken a significant step towards advancing its autonomous vehicle ambitions by making a strategic investment in Wayve, a UK-based artificial intelligence startup 1. The partnership, announced recently, aims to accelerate the development of self-driving technology and strengthen Uber's position in the rapidly evolving transportation industry 2.
Wayve's Innovative Approach to Autonomous Driving
Wayve has gained attention for its unique approach to autonomous vehicle technology. Unlike traditional methods that rely heavily on expensive hardware and pre-mapped environments, Wayve's system utilizes advanced AI and machine learning algorithms to adapt to new and complex driving scenarios 3. This innovative approach has the potential to significantly reduce the cost and complexity of deploying self-driving vehicles at scale.
Implications for Uber's Autonomous Strategy
The investment in Wayve represents a shift in Uber's autonomous vehicle strategy. After selling its Advanced Technologies Group (ATG) to Aurora Innovation in 2020, Uber has been seeking partnerships to maintain its involvement in the self-driving space 4. This collaboration with Wayve allows Uber to leverage cutting-edge AI technology without the need for extensive in-house development.
Potential Impact on Uber's Services
Uber's investment in Wayve is expected to have far-reaching implications for its ride-hailing and delivery services. The integration of Wayve's technology could potentially lead to the deployment of autonomous vehicles in Uber's fleet, improving efficiency and reducing operational costs 5. This move aligns with Uber's long-term goal of incorporating self-driving capabilities into its platform to enhance safety and expand its service offerings.
Challenges and Competition in the Autonomous Vehicle Market
While the partnership between Uber and Wayve shows promise, the road to widespread adoption of autonomous vehicles remains challenging. Regulatory hurdles, public acceptance, and technological refinement are among the obstacles that need to be overcome. Additionally, competition in the self-driving space is intense, with tech giants and traditional automakers investing heavily in autonomous technology development.
Future Outlook
The collaboration between Uber and Wayve represents a significant development in the autonomous vehicle landscape. As the partnership progresses, industry observers will be watching closely to see how Wayve's AI-driven approach integrates with Uber's global transportation network. The success of this venture could potentially reshape the future of urban mobility and set new standards for the implementation of self-driving technology in ride-hailing services.
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Wayve Expands AI-Driven Automated Driving Tests to US Roads
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7 Sources
Uber Explores Investment in Autonomous Driving Firm Pony.ai's IPO
Uber is reportedly in talks to invest over $10 million in Pony.ai's upcoming U.S. IPO, potentially marking a significant move in the autonomous driving sector. This development could lead to a partnership between the two companies outside the U.S.
3 Sources
Nvidia Leads AI Revolution in Autonomous Vehicles, Partners with Uber and Major Automakers
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14 Sources
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