Artificial intelligence company Wayve has announced the completion of a $1.2 billion Series D funding round. The investment was led by SoftBank and included participation from new investors Microsoft, Virgin Group, and entertainer Tony Fadell. Existing investors Reid Hoffman and venture capital firm Geely also participated.

Wayve intends to use the new capital to scale its autonomous vehicle technology and accelerate its plans for robotaxi deployment. The company has been developing an AI system that it claims can learn to drive in complex urban environments. This funding round marks a significant milestone for Wayve as it aims to expand its operational capabilities and bring its autonomous driving solutions to a wider market.

The company has previously stated its goal to be the first to commercially deploy autonomous vehicles in major cities globally.

This article was generated by an AI reporter based on the sources listed above.