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Wayve, a U.K.-based startup developing a self-learning system for autonomous driving, has secured $1.05 billion in Series C funding led by SoftBank Group. This marks the largest AI funding round in the U.K. and ranks among the top 20 AI fundraises globally. Wayve’s autonomous driving approach is similar to Tesla’s, but with a key difference: Wayve plans to license its autonomous driving technology to various auto manufacturers. This strategy aims to generate a significantly larger dataset for training its models, unlike Tesla, which relies on the purchase of its own car brand. However, Wayve has yet to announce any automotive partners. Source: https://lnkd.in/e9Jdbddj #startup #autonomousdriving

In the quest for fully autonomous vehicles, a crucial step is ensuring that AI systems can handle a wide range of scenarios with the same proficiency as human drivers. Foretellix, a company developing verification and validation solutions for driver assistance and autonomous systems, has raised $85 million in Series C funding to accelerate its efforts in this area. The full round is being led by 83NORTH, with Singapore’s Temasek and carmaker Isuzu investing alongside Woven Capital (Toyota’s venture fund), NVIDIA, ArtOfInfo and previous backers MoreTech Ventures, Nationwide, Volvo Group VC, Jump Capital, Next Gear Ventures and OurCrowd. The first close of this Series C was in May of this year at $43 million. This substantial investment will enable Foretellix to expand its platform's capabilities, allowing it to generate and test scenarios that are more complex and realistic than ever before. The company's technology is already being used by leading automakers and technology companies to validate their self-driving systems. With this funding boost, Foretellix is positioned to play a pivotal role in ensuring that self-driving vehicles are safe and reliable for public use. The company's innovative approach to testing is helping to bridge the gap between theoretical development and real-world applications, paving the way for a future where autonomous vehicles become an integral part of transportation. Foretellix also contributes to other companies’ platforms in the arena of simulation testing. NVIDIA, for example, has integrated Foretellix’s tools into its Drive SIM driving simulation platform, used to test autonomous systems. Key Takeaways: -Foretellix has raised $85 million to enhance testing of self-driving systems. -The company's platform generates and tests complex and realistic scenarios. As the self-driving revolution continues to gather momentum, Foretellix's contributions will be instrumental in bringing this transformative technology to fruition. Their dedication to creating robust and reliable verification and validation solutions is paving the way for a future where autonomous vehicles seamlessly integrate into our lives. #autonomousrevolution #driverassistance #seriesC #ai #machinelearning #datascience #transportation #mobility #futureofmobility #selfdrivingfuture

Wayve raises $1B to take its Tesla-like technology for self-driving to many carmakers Wayve, a U.K.-born startup developing a self-learning rather than rule-based system for autonomous driving, has closed $1.05 billion in Series C funding led by SoftBank Group. This is the U.K.’s largest AI fundraise ever and sits among the top 20 AI fundraises globally to date. Also participating in the raise was Nvidia and existing investor Microsoft. Wayve’s early-stage investors included Meta’s head of AI, Yann LeCun. Wayve, which was founded in Cambridge in 2017, raised $200 million in a Series B round in January 2022 led by Eclipse Ventures, which also led the company’s $20 million Series A round in 2019. The company plans to use the fresh capital injection to develop its product for “eyes on” assisted driving and “hands off” fully automated driving and other AI-assisted automotive applications. It plans to expand operations globally. San Francisco has become known as the epicenter for autonomous driving roll-outs, with Alphabet-owned Waymo and GM-owned Cruise both operating services in the city. By contrast, Wayve’s “end-to-end” self-driving system began its life around the tiny streets of Cambridge on an electric Renault Twizy, which is a two-seated microcar. Since then, it has been training its model on delivery vehicles for the likes of companies like U.K. grocery delivery company Ocado, which invested $13.6 million in the startup. Wayve’s approach to autonomous driving is similar to Tesla’s, but Wayve plans to sell its autonomous driving model to a variety of auto OEMs. The implication, of course, is that Wayve will garner a great deal more training data on which to improve its model, as Tesla must rely on someone buying their car brand. The company has not announced any such automotive partners yet, however. Wayve calls its hardware-agnostic mapless product an “Embodied AI,” and it plans to distribute its platform not just to car makers but also to robotics companies serving manufacturers of all descriptions, allowing the platform to learn from human behavior in a wide variety of real-world environments. The company’s research on multimodal and generative models, known as LINGO and GAIA, will offer “language-responsive interfaces, personalized driving styles, and co-piloting,” the firm promises. https://lnkd.in/e9Jdbddj

Wayve raises $1B to take its Tesla-like technology for #SelfDriving to many carmakers This is the U.K.’s largest #AI #fundraise ever and sits among the top 20 AI fundraises globally to date.  https://bit.ly/4bzu1zd via TechCrunch by Mike Butcher ✍️ #TechFunding #AutonomousDriving Wayve has closed $1.05 billion in Series C funding led by SoftBank Group Corp., along with NVIDIA and existing investor Microsoft. Wayve’s early-stage investors included Meta’s head of AI, Yann LeCun. Wayve, which was founded in 2017, raised $200 million in a Series B round in January 2022 led by Eclipse Ventures. The company plans to use the new funding to develop its product for “eyes on” assisted driving & “yes off” fully automated driving & other AI-assisted automotive applications. It plans to expand operations globally. Wayve’s “end-to-end” self-driving system began its life around the tiny streets of Cambridge on an electric Renault Twizy. Since then, it has been training its model on delivery vehicles for companies like U.K. grocery delivery company Ocado Retail, which invested $13.6 million in the startup. Wayve’s approach to autonomous driving is similar to Tesla’s, but Wayve plans to sell its AI model to a variety of auto #OEMs. The company has not announced any such automotive partners yet, however. Wayve calls its hardware-agnostic mapless product an “Embodied AI,” and it plans to distribute its platform not just to car makers but also to #robotics companies serving manufacturers of all descriptions, allowing the platform to learn from human behavior in a wide variety of real-world environments. The company says its research on multimodal and generative models, known as LINGO and GAIA, will offer “language-responsive interfaces, personalized driving styles, and co-piloting.” Wayve co-founder & CEO Alex Kendall says the key moment has been the auto industry’s “step change” where “production vehicles are coming out with GPUs, surrounding cameras, radar,” from which Wayve can draw data for its autonomous platform. Wayve has big plans for robotics as well. “Very soon you’ll be able to buy a new car, and it’ll have Wayve’s AI on it … Then this goes into enabling all kinds of embodied AI, not just cars, but other forms of robotics,” said Kendall. U.K., Prime Minister Rishi Sunak issued a supporting statement, including: “I’m incredibly proud that the U.K. is the home for pioneers like Wayve who are breaking ground as they develop the next generation of AI models for self-driving cars.” Kentaro Matsui, managing partner at SoftBank Investment Advisers and a Wayve board member, said: “AI is revolutionizing mobility … The potential of this type of technology is transformative; it could eliminate 99% of traffic accidents.”

UK AI startup Wayve wins $1bn funding for self-driving car software The UK self-driving car technology startup Wayve has secured more than $1bn (£800m) of investment to develop the next generation of artificial intelligence-powered vehicles, with the funding round led by Japan’s SoftBank. This investment will help develop and launch the first “embodied AI” technology for self-driving vehicles in the UK 👀. Embodied AI will enable automated vehicles to learn from and interact with a real-world environment, including the ability to learn from situations that do not follow strict patterns or rules, such as unexpected actions by drivers or pedestrians. Autonomous Driving is in its infancy, especially in the UK, so it is great to see Wayve leading the way with this huge investment round. A step in the right direction 🙌🏿. #EmbodiedAI #AutonomousDriving #Wayve

In this final part, discover how Indian startups are pioneering innovative solutions to bring driverless cars to the roads of India. From cutting-edge technology to unique adaptations for local conditions, see the future of autonomous driving unfold! Watch now to learn about the exciting advancements and creative strategies in India's self-driving car landscape. #SelfDrivingCars #AutonomousVehicles #FutureOfDriving #IndianStartups #TechInnovation #SkillLync #DriverlessCars #AutomotiveTechnology #Innovation #IndiaTech

Chinese Robotaxi Startup Deeproute.ai Expands to Germany-Rita L. Chinese robotaxi startup DeepRoute.ai plans to open an operations center in Germany in 2024 as it expands its autonomous driving efforts beyond China. The company's Drive 3.0 autonomous driving solution, which operates without HD maps, is set to debut in Germany next year and will later roll out to other European markets. While Deeproute has not provided specific details about the operations center, it aims to hire a business development team there to connect with local automakers and support smart driving mass production. The move follows a trend of Chinese mobility companies establishing a presence in Germany's automotive hub. #DeeprouteAI #RobotaxiStartup #AutonomousDriving #OperationsCenter #GermanyExpansion #Drive3.0 #SmartDriving #EuropeanMarkets #AutomotiveIndustry #MobilityCompanies #ChinaToGermany #AutonomousVehicles #TechNews #AutomotiveHub #AutonomousDrivingSolution #DeeprouteExpansion #EuropeanExpansion

Wayve raises $1 billion to take its Tesla-like technology for self-driving to many carmakers Wayve, a UK-born startup processing a self-learning alternatively than rule-based strategy for autonomous driving, has closed a $1.05 cardinal successful Series C backing led by SoftBank Group. This is the UK’s largest AI fundraise ever and sits among the apical 20 AI fundraises globally to date. Also participating successful the rise was NVIDIA and existing capitalist Microsoft. Waye’s aboriginal signifier investors included Meta’s caput of AI, Yann LeCun. Wayve, which was founded successful Cambridge successful 2017, raised $200m successful a bid B round successful January past twelvemonth led by Eclipse Ventures. The institution plans to usage the caller superior injection to make its merchandise for “eyes on” assisted driving and “yes off” afloat automated driving, different AI-assisted automotive applications, and grow operations globally. San Francisco has go known arsenic the epicenter for autonomous driving roll-outs, with Alphabet-owned Waymo and GM-owned Cruise some operating services successful the city. By contrast, Wayve’s “end-to-end” self-driving strategy began its beingness astir the tiny streets of Cambridge connected an electrical Renault Twizy. Since then, it has been grooming its exemplary connected transportation vehicles for the likes of companies similar UK market transportation institution Ocado, which invested $13.6 cardinal successful the startup. Wayve’s attack to autonomous driving is akin to Tesla’s, but Wayve plans to merchantability its autonomous driving exemplary to a assortment of car OEMs. The implication, of course, is that Wayve volition garner a large woody much grooming information connected which to amended its model, arsenic Tesla indispensable trust connected idiosyncratic buying their car brand. The institution has not announced immoderate specified automotive partners yet, however. Wayve calls its hardware-agnostic mapless merchandise an “Embodied AI”, and it plans to administer its level not conscionable to car makers but besides to robotics companies serving manufacturers of each descriptions, allowing the level to larn from quality behaviour successful a wide assortment of real-world environments. The company’s probe connected multimodal and generative models, known arsenic LINGO and GAIA, volition connection “language-responsive interfaces, personalized driving styles, and co-piloting,” the steadfast promises. Wayve co-founder and CEO Alex Kendall told Techcrunch: “Seven years ago, we started the institution to spell physique an embodied AI. We person been heads down gathering exertion … What happened past twelvemonth was everything truly started to work.” He said the cardinal infinitesimal has been the automotive industry’s “step change” into having cameras s...

🇭🇺 Hungary, a nation not traditionally known for automotive prowess, is now leading the way in autonomous driving. 🚘 If you want to find out more, buckle up and dive into our analysis on Hungary's rapid ascent in the world of autonomous driving, through the success of companies such as aiMotive and Commsignia >> https://hubs.la/Q025Llzc0 🎙️Featuring comments from Csongor Biás (Startup Hungary ), Csaba Kakosy (Day One Capital) and Istvan Toth. #AutonomousDriving #Hungary #FutureOfMobility

Luminar Technology, one of the most hyped startups in en automotive sector, is a new Mercedes Formula 1 partner. The company is specialized in developing sensors and software to enable self-driving cars. Hopefully this will not affect George Russell and Lewis Hamilton future as Formula 1 drivers 😀 Luminar Technologies, announced late Tuesday evening, is based in Orlando, USA, and the company have a close relationship with Mercedes. Luminar have developed the lidar sensors and autonomous driving technology, as well as AI solutions. Customers are Mercedes, Nissan, Volvo, Polestar and Saic Motor. It is one of the most hyped tech startups in the automotive sector. The company was founded by Austin Russell, 28, in 2012. He is one of the world's youngest self-made billionaires. He dropped out of Stanford University to start Luminar Technologies. He is now worth approximately $1.6bn. Luminar, listed on NASDAQ, with a long term vision to change the way we use cars, by introducing self-driving, is still more or less a startup. The 2022 Full Year revenue was $40.7 million and the net loss $445.9 million!! In Q3 2023 the Net loss was $134,3 million and for the 9 months 2023 the loss was almost $423 million. Total revenue was only 47,6 million. Mercedes cars have cooperated with Luminar since January 2022. 📷 Daily Express