Self-driving startup Wayve just raised $1 billion from Nvidia, SoftBank, Microsoft and more

British startup Wayve on Tuesday said it had raised $1.05 billion in an investment round led by Japan's SoftBank to accelerate the growth of its self-driving car technology.

The Series C funding round included new investor U.S. chipmaker Nvidia . It also existing investor software giant Microsoft , a major backer of artificial intelligence firms.

The financing marks a major vote of confidence for the Cambridge-based firm. It also builds on the heaps of cash that have so far been deployed in the AI space.

"At Wayve, our vision is to develop autonomous technology that not only becomes a reality in millions of vehicles but also earns people's trust by seamlessly integrating into their everyday lives to unlock extraordinary value," Alex Kendall, Wayve co-founder and CEO, said in a statement.

"This significant funding milestone highlights our team's unwavering conviction that Embodied AI will address the long-standing challenges the industry has faced in scaling this technology to everyone, everywhere."

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