08 May 2024

Landmark AI fundraise signals confidence in UK tech market

This week, Wayve, the leading developer of Embodied AI technology for autonomous driving, and MHP Group’s client since 2022, secured $1.05 billion in its Series C investment round.

MHP Group

Backed by industry giants SoftBank Group Corp., NVIDIA, and Microsoft, the round accelerates Wayve’s mission to reimagine autonomous mobility through embodied intelligence.  

As Europe’s largest AI funding deal to date, this is a landmark moment for both Wayve and the UK’s AI sector. The UK has long been home to some of the world’s most innovative companies and this announcement advances its position as a leader in these emerging industries. 

The announcement attracted significant interest and coverage across both sides of the Atlantic, with articles in leading global publications including the New York Times, Bloomberg, and the Financial Times. Testament to the significance of this moment, Prime Minister Rishi Sunak along with Secretary of State for Science, Innovation and Technology, Michelle Donelan visited Wayve’s offices to meet CEO and Co-Founder Alex Kendall. 

It’s a hugely exciting time to be working in this space, with embodied AI poised to lead the next wave of AI innovation. This disruptive approach enables machines to learn from and interact with human behaviour in real-world scenarios, offering significant functionality and safety advantages. Find out more about Wayve’s technology here.  

MHP Group represents major technology businesses and investors – including Spotify, Feedzai, Roke, BAE Systems and Breakthrough Energy – and has previously supported blockbuster fundraising rounds for leading brands including Perenna, Klarna, Marshmallow and Wayflyer. 

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