Self-Driving Startup Wayve Raises $1.5 Billion for Robotaxi Wars

Wayve, the UK autonomous driving software startup, has raised $1.5 billion in funding at an $8.6 billion valuation as it prepares to go up against Chinese and US rivals to roll out self-driving taxis.

The funding comprises $1.2 billion from lead investors Eclipse Ventures LLC, Balderton Capital and SoftBank Vision Fund 2, with participation from Ontario Teachers’ Pension Plan, Baillie Gifford and the British Business Bank among others, Wayve said in a statement. Existing backers Microsoft Corp., Nvidia Corp. and ride-hail giant Uber Technologies Inc. also invested.