Wayve raises $1.26B Series D

The round was led by Eclipse, Balderton and SoftBank Vision Fund 2, and it values the London company at $8.6 billion post-money. Microsoft, NVIDIA and Uber took part, along with Ontario Teachers' Pension Plan, Baillie Gifford, British Business Bank, Icehouse Ventures and Schroders Capital. Uber's extra commitment, reported at up to $300M and tied to milestones, brings the total capital secured to $1.5B. It is meant to fund robotaxi deployment in more than 10 markets, with a first London service planned for 2026. Automakers are also on the cap table for the first time. Mercedes-Benz, Nissan and Stellantis invested, and Nissan already plans to bring Wayve's software to its vehicles from 2027. The previous round was a $1.05B Series C in May 2024, led by SoftBank. The new valuation puts Wayve second among UK AI companies, behind ElevenLabs. Wayve also competes with Waymo and other robotaxi developers for the same city partnerships. For AI founders, the deal shows capital going to companies that sell a software layer to several automakers and fleet operators, rather than building their own vehicles. Strategic investors such as carmakers and Uber supplied part of the money and are also the buyers. That ties funding to distribution, but it also puts customers on the cap table.