Uber Invests In Wayve To Boost Future Automated Driving Solutions

(RTTNews) - Uber Technologies, Inc. (UBER), a provider of transport and delivery services, announced on Thursday that it has agreed to make a strategic investment in Wayve, a firm focused on AI technology to provide automated driving vehicles.

The investment will serve as an extension to the company's previously announced Series C fundraising round.

"With the additional funding and support from Uber, Wayve intends to accelerate its work with global OEMs to enhance consumer vehicles with Level 2+ advanced driver assistance and Level 3 automated driving capabilities," Uber said.

Wayve is also working on the development of globally scalable Level 4 autonomous vehicles for future deployment on Uber.

The tie-up will allow Wayve-powered self-driving vehicles to made available on the Uber network.