Wayve Raises $13.6M to Advance Lidar-Free Self-Driving Tech

Wayve Secures Investment from Ocado for Autonomous Delivery Development

Wayve, a U.K.-based startup specializing in self-driving technology, has received a £10 million ($13.6 million) investment from Ocado, the online grocer and technology provider. This funding will propel Wayve into its next phase of development.

Collaboration and Technology Trial

This agreement grants Ocado early access to Wayve’s innovative technology. A year-long trial is planned, integrating Wayve’s hardware and software into Ocado vans. The vehicles will navigate real-world conditions, including traffic congestion and complex residential street layouts.

Ocado intends to extend the use of this technology across its global network. The company licenses its Ocado Smart Platform (OSP) – encompassing grocery picking, inventory management, and logistics – to retailers worldwide.

Data Exchange and Machine Learning

The partnership is mutually beneficial regarding data acquisition. Wayve will equip Ocado vehicles with its computing and camera systems to collect data on delivery driving. This data is crucial for refining Wayve’s machine learning algorithms, which are designed to operate without relying on expensive lidar and other sensors.

The company’s core strength lies in its ability to function effectively in unfamiliar environments, though continuous training data remains essential for optimal performance.

Statements from Leadership

“Ocado Group has consistently championed innovation in grocery logistics on a global scale,” stated Alex Kendall, CEO of Wayve. “Their forward-thinking approach and international reach align perfectly with Wayve’s values and ambitions. We are eager to collaborate with Ocado Group and leverage their extensive expertise.”

Kendall continued, “There is significant momentum globally to revolutionize mobility within grocery operations. Our focus is on delivering an autonomous last-mile solution to meet the evolving needs of grocery retailers. This partnership with Ocado Group will accelerate the deployment of autonomous delivery services in more locations worldwide.”

Multiple Retail Partnerships

The deal with Ocado is non-exclusive for both parties. Wayve is concurrently collaborating with other major retailers in the U.K., including Asda, which initiated a trial last month.

Records indicate that discussions with Ocado predated the Asda agreement, suggesting a competitive dynamic between the supermarket chains to secure Wayve’s technology.

Strategic Investors and Funding

Wayve has attracted a diverse portfolio of strategic investors. Virgin announced an investment of an undisclosed amount in March. To date, Wayve has secured over $58 million in funding, with contributions from Yann LeCun, Balderton, and Firstminute (Brent Hoberman’s VC).

Ocado’s Diversified Approach

Ocado is actively diversifying its investments in autonomous driving technology. Earlier this year, the company also invested in Oxbotica, a developer of software for self-driving systems.

These investments represent distinct approaches to tackling the challenges of autonomous driving.

Complementary Technologies

“These are orthogonal solutions, akin to Android and iPhone,” explained Alex Harvey, chief of advanced technology at Ocado Group. “They don’t integrate directly, but they represent two different pathways to resolving this complex challenge, a challenge Ocado is dedicated to solving for its OSP partners as quickly as possible.”

Recognizing that both approaches are still evolving, Ocado believes it’s crucial to explore a variety of solutions to ensure the development of the safest and most effective systems.

Commitment to Innovation

“Ocado is dedicated to leading the way in solving one of the most intricate technological challenges of our time – automating last-mile deliveries in congested urban environments,” Harvey affirmed. “Our investment portfolio in the self-driving space reflects this commitment, providing us with a unique platform to accelerate the development of this capability for our OSP partners.”

Cost-Effectiveness of Wayve’s System

A key incentive for investing in Wayve is the potential for significant cost savings. Wayve’s system, based on “AI software, lean hardware and fleet learning platform for AV 2.0,” is projected to be less expensive to implement than systems reliant on lidar and other sensors.

This investment signifies another step for Ocado in building its next-generation technology and reinforces the company’s commitment to autonomous systems as a core component of its strategy.

“Ocado is progressing towards the development of highly intelligent autonomous mobility systems to further enhance the operational economics and value proposition of the Ocado Smart Platform for our retail partners,” Harvey concluded. “We are impressed with Wayve’s approach to this complex challenge and are excited to accelerate our capabilities, enabling our retail partners globally to benefit from them at the earliest opportunity.”

This article has been updated to include commentary from Ocado regarding its investment in Oxbotica and its broader strategy in autonomous technology.