Wayve, the seven year-old UK AI ADAS startup, has raised $1.05 billion in a Series C funding round backed by Nvidia, Microsoft and Softbank among others.

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Wayve delivers a vehicle-agnostic ADAS system which it wants to license to car manufacturers .

Wayve had a $200 million Series B round in January 2022 and a $20 million Series A round in 2019. Both were led by Eclipse Ventures.

Other investors were: Balderton Capital, Baillie Gifford, D1 Capital Partners, Moore Strategic Ventures,Virgin and Ocado.

Wayve CEO Alex Kendall (pictured) said that the investment will help Wayve migrate its technology from “assisted to automated driving.” He said the technology, which uses generative models LINGO-1 and GAIA-1, applies to robots as well as cars.

“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,” said Rishi Sunak.