Wayve, a self-driving tech startup backed by SoftBank, receives investment from Uber.

• Uber has invested an undisclosed amount into Wayve for a minority stake, as part of a broader commercial partnership, the companies announced in a statement.
• Wayve's $1 billion Series C funding round, led by SoftBank, has been extended with additional investment.

Wayve, a British artificial intelligence startup, has announced a partnership with London-based firm to work on autonomous driving technology.

Uber is investing an undisclosed amount into Wayve for a minority stake, as part of an extension of Wayve's $1 billion Series C funding round led by Japanese tech investor earlier this year.

U.S. chipmaker and software giant also invested in Wayve's Series C.

Wayve is developing a versatile driving AI that can operate at any level of automation in any vehicle, globally, according to Alex Kendall, Wayve's co-founder and CEO.

He stated that, in collaboration with Uber, Wayve is eager to collaborate with automotive OEMs to accelerate the availability of autonomous driving technologies to the public.

Dara Khosrowshahi, CEO of Uber, stated that the two companies have a common goal of improving mobility.

Khosrowshahi stated that Wayve's advanced Embodied AI approach holds great potential as we strive towards a future where vehicles are shared, electric, and autonomous.

Uber will integrate Wayve's AV2.0 technology into consumer vehicles to provide a range of automated driving capabilities.

Wayve's AV2.0 product enables automakers to add Level 2+ advanced driver assistance and Level 3 and 4 automated driving capabilities to their existing vehicles.

SAE International, a global standards body for the mobility engineering industry, establishes different levels of vehicle autonomy.

Uber plans to introduce self-driving vehicles on its app utilizing Wayve's technology, the companies announced.

In 2020, Uber sold its self-driving car unit to Aurora Technologies, an Amazon-backed firm, and committed to investing $400 million in the company.

Recently, the ride-sharing giant announced a partnership with Cruise, a General Motors-backed autonomous driving startup, to provide driverless rides on its ride-hailing network.

Waymo, the Google self-driving spinoff, has also partnered with Uber to offer rides in vehicles operated by Waymo, as well as with Lyft, a competitor to Uber, in a similar commercial tie-up in 2019.