Wayve key statistics
Wayve is a London company that builds AI software to drive cars. These are the headline numbers, as of 8 October 2026. Filings figures come from Wayve's returns to Companies House; announced and reported figures are the company's or the press's.
How much is Wayve worth?
Wayve was valued at $8.6bn after its Series D in February 2026, the post-money valuation announced with the round. At the Series D price of £392.55 a share, the 14.1m shares in issue after the round are worth £5.54bn.
The two figures measure different things. The announced valuation is fully diluted: it also counts shares that options and other rights could create. At the Bank of England rate on the day the round was announced ($1.3534 to the pound), $8.6bn is £6.35bn, which at £392.55 a share implies about 16.2m shares, 2.1m more than were in issue.
Source: Sonde analysis of Companies House filings (SH01 returns of allotment).
No valuation was published with Wayve's Series C in May 2024. Its Series C price of £197.68 a share puts the company at £2.22bn on the shares in issue once the round closed, which is the closest thing to a Series C valuation on the public record. Between the Series C and the Series D the value of Wayve's issued shares rose 2.5 times.
See the numbers
| Round | Price per share | Shares in issue after the round | Implied value |
|---|---|---|---|
| Series D 2026 | £392.55 | 14,119,119 | £5.54bn |
| Series C 2024 | £197.68 | 11,244,400 | £2.22bn |
| Series B 2022 | £89.76 | 6,121,806 | £549.5m |
| Series A 2019 | £12.67 | 4,077,776 | £51.7m |
| Seed 2018 | £2.12 | 2,758,168 | £5.8m |
Source: Sonde analysis of Companies House filings (SH01 returns of allotment and their statements of capital). Shares in issue exclude deferred shares, which carry no economic value.
How much has Wayve raised?
Wayve has raised £1.87bn by issuing new shares since 2017, about $2.46bn at the exchange rate when each round was announced. Its returns of allotment state the price paid for every share, so each round's total is shares issued times price, not a press estimate.
| Round | Raised (filings) | Price per share | Shares issued | In dollars | Announced | Investors |
|---|---|---|---|---|---|---|
| Series D, later closeJune 2026 | £37.0m | £392.55 | 94,377 | $49.8m | not announced | Eclipse (an Eclipse vehicle holds exactly these shares) |
| Series D extensionApril 2026 | £44.3m | £392.55 | 112,830 | $60.1m | $60m15 April 2026 | AMD, Arm and Qualcomm Ventures |
| Series DFebruary to March 2026 | £770.3m | £392.55 | 1,962,357 | $1.04bn | $1.2bn25 February 2026 | Led by Eclipse, Balderton and SoftBank Vision Fund 2 |
| Series B-1November 2024 | £10.0m | £59.51 | 168,038 | $12.9m | not announced | Not announced |
| Series CFebruary to August 2024 | £821.5m | £197.68 | 4,155,829 | $1.03bn | $1.05bn7 May 2024 | Led by SoftBank, with Nvidia and Microsoft; Uber joined in August 2024 |
| Series BJanuary to March 2022 | £151.6m | £89.76 | 1,688,436 | $205.8m | $200m18 January 2022 | Led by Eclipse |
| Series B-1January 2022 | £20.6m | £31.88 | 646,188 | $27.9m | not announced | Issued alongside the Series B |
| Series AJuly 2019 | £16.6m | £12.67 | 1,319,608 | $21.6m | $20m18 November 2019 | Led by Eclipse |
| SeedSeptember 2017 to February 2018 | £1.6m | £2.12 | 758,168 | $2.2m | not announced | Compound, Fly Ventures and firstminute Capital hold seed shares |
| Total | £1.87bn | $2.46bn |
Source: Sonde analysis of Companies House filings.
- Shares are often issued before a round is announced. The first £153.7m was issued in February 2024, three months before the round was announced.
- The filings count new shares only. They leave out Uber's $300m of milestone-based capital, which sits outside the Series D, and any sale of existing shares between investors. Where an announced total includes either, or money not yet paid in, it can differ from the filings.
- Series A. About £0.6m was issued at a lower £11.40 a share, the usual pattern of earlier convertible funding converting.
- Series B-1. Priced at about a third of the Series B, the usual pattern of earlier convertible funding converting. Ocado announced a £10m investment in October 2021, between the two rounds. A second, smaller B-1 issue in November 2024 raised £10.0m at £59.51 a share and was not announced.
- Dollars use the Bank of England's spot rate on the day each round was announced, or for a round never announced, on its first allotment.
Who invested in Wayve's Series D?
Nvidia bought the most Series D shares: 934,432, or £366.8m at £392.55 a share, 43% of the 2,169,564 Series D shares issued. That is about $496.4m, in line with the $500m investment Nvidia said in September 2025 it would consider. Uber came second with £183.4m.
The round was announced as led by Eclipse, Balderton and SoftBank Vision Fund 2. A lead investor sets the terms of a round and is not always its biggest buyer: on the register, Nvidia and Uber between them hold 65% of the new shares.
| Investor | At £392.55 a share | Share of the round | Series D shares |
|---|---|---|---|
| Nvidia | £366.8m | 43.1% | 934,432 |
| UberSMB Holding Corporation | £183.4m | 21.5% | 467,216 |
| EclipseEclipse SPV XXX, Eclipse SPV XXXII | £78.4m | 9.2% | 199,594 |
| Capital Group fundsEuPac Fund, SmallCap World Fund, Capital Group EuPac Trust (US), Capital Group EuPac Common Trust (US) | £41.6m | 4.9% | 105,903 |
| Qualcomm Ventures | £36.7m | 4.3% | 93,443 |
| TVG 122 Ontario | £36.7m | 4.3% | 93,443 |
| British Business BankBritish Patient Capital, British Growth Partnership Fund IIt announced £25m in February 2026, £8m of it through the British Growth Partnership | £24.9m | 2.9% | 63,541 |
| Microsoft | £18.3m | 2.2% | 46,721 |
| Gaia Investments | £18.3m | 2.2% | 46,721 |
| Mercedes-Benz | £7.3m | 0.9% | 18,688 |
| AMD | £3.7m | 0.4% | 9,344 |
| Arm | £3.7m | 0.4% | 9,344 |
| SoftBank Vision Fund 2 | £3.7m | 0.4% | 9,344 |
| Nissan | £733k | 0.1% | 1,868 |
| Stellantis | £733k | 0.1% | 1,868 |
| Other funds and individuals | £26.7m | 3.1% | 68,094 |
| All Series D shares | £851.7m | 100% | 2,169,564 |
Source: Sonde analysis of the Companies House shareholder register (confirmation statement made up to 20 August 2026).
The British Business Bank's two holders account for £24.9m, matching the £25m it announced for the round. Capital Group's funds are EuPac Fund and SmallCap World Fund and two related trusts.
Who owns Wayve?
SoftBank Vision Fund 2 owns 28.6% of Wayve, the largest stake. Eclipse is second with 14.2% across five funds. The figures come from the confirmation statement made up to 20 August 2026, which lists 14,194,245 issued shares. The ten largest holders, counting each investor's funds together, own 83.3%.
| Holder | Stake | Shares | At the Series D price |
|---|---|---|---|
| SoftBank Vision Fund 2SVF II Pacific (DE) LLC | 28.6% | 4,056,235 | £1.59bn |
| EclipseEclipse Fund III, Eclipse Early Growth Fund I, Eclipse SPV XI, Eclipse SPV XXX, Eclipse SPV XXXII | 14.2% | 2,015,982 | £791.4m |
| The two co-founders, combinedAlex Kendall and Amar Shah · Ordinary and growth shares | 12.5% | 1,778,465 | not shown |
| NvidiaNvidia Corporation | 7.7% | 1,096,308 | £430.4m |
| Trident Trust CompanyTrident Trust Company Limited · A professional trustee holding ordinary, growth and deferred shares, the classes staff hold | 7.4% | 1,043,948 | £409.8m |
| UberSMB Holding Corporation | 4.0% | 568,388 | £223.1m |
| Balderton CapitalBalderton Capital VI | 2.6% | 365,966 | £143.7m |
| CompoundCompound III, Compound WV 1, a series of Compound Funds | 2.4% | 337,839 | £132.6m |
| OcadoOcado Ventures (Wayve) Limited | 2.4% | 336,066 | £131.9m |
| Fly VenturesFly Ventures Fund I | 1.6% | 222,190 | £87.2m |
| TVG 122 OntarioTVG 122 Ontario Limited · The name and its Series D holding match Ontario Teachers' Pension Plan, which says it invested in the Series D | 1.6% | 220,866 | £86.7m |
| MicrosoftMicrosoft Corporation | 1.5% | 213,823 | £83.9m |
Source: Sonde analysis of the Companies House shareholder register (confirmation statement made up to 20 August 2026).
- Values are illustrative. They multiply shares by the Series D price of £392.55, but preference shares and ordinary shares carry different rights, so a holding is not worth exactly its share count times one price. We do not put a value on individuals' holdings.
- Person with significant control. SoftBank Group Corp is the only one on the register, with 25% to 50% of the shares and votes, notified on 25 April 2024.
- Uber holds its stake through SMB Holding Corporation, which Uber lists among its subsidiaries in its annual report to the US Securities and Exchange Commission.
- Other strategic holders: Mercedes-Benz, Nissan and Stellantis each bought Series D shares; Nissan and Stellantis hold 1,868 each, about £733k apiece at the Series D price.
Who are Wayve's investors?
Wayve's backers run from venture firms to chipmakers, carmakers, a grocer and pension money. Each investor's stake is from the August 2026 register, with its funds counted together.
Big tech and platforms
- SoftBank Vision Fund 228.6%
- Nvidia7.7%
- Uber4.0%
- Microsoft1.5%
Venture capital
- Eclipse (five funds)14.2%
- Balderton Capital2.6%
- Compound (two funds)2.4%
- Fly Ventures1.6%
- D1 Capital Partners1.2%
- Moore Strategic Ventures1.0%
- firstminute capital (two funds)0.9%
- Linse Capital0.9%
- Exor Seeds0.9%
Chipmakers
- Nvidia7.7%
- Qualcomm Ventures0.7%
- AMD0.07%
- Arm0.07%
Carmakers and other partners
- Ocado2.4%
- Mercedes-Benz0.1%
- Nissan0.01%
- Stellantis0.01%
Pension and public money
- Ontario Teachers' Pension Plan (as TVG 122 Ontario)1.6%
- British Business Bank0.4%
Listed and mutual funds
- Baillie Gifford (two London-listed funds)1.1%
- Capital Group (four funds)0.7%
- ARK Invest (two funds)0.4%
- The Private Shares Fund0.4%
- Schroders Capital0.07%
Source: Sonde analysis of the Companies House shareholder register (confirmation statement made up to 20 August 2026).
Ontario Teachers' Pension Plan says it invested in the Series D. Its stake is identified by the matching name and holding: the register lists TVG 122 Ontario Limited. The British Business Bank's stake is held by British Patient Capital and the British Growth Partnership, its fund for pension money.
Wayve and Uber: where do Wayve robotaxis operate?
Wayve's robotaxis carry passengers in London, booked through Uber. The service started on 3 September 2026 across the city, airports excepted, the first robotaxi service in London. Fewer than 20 cars ran at launch, with safety authorisation for 15, and a licensed safety driver in each car. Riders who book an UberX, Uber Comfort or Uber Electric trip may be matched with one at no extra cost.
Next is Tokyo: Nissan, Uber and Wayve plan a pilot there by the end of 2026, and Uber plans Wayve-powered fleets in ten cities, London included. In carmakers' own vehicles, Nissan plans to put Wayve's software in its driver-assistance system from 2027, and Mercedes-Benz and Stellantis are also customers.
Uber's stake, from the filings
- £20.0m for 101,172 Series C shares, issued in the last days of August 2024. Uber announced the investment on 29 August 2024 without disclosing the amount.
- £183.4m for 467,216 Series D shares in 2026.
- 4.0% of Wayve in total, held by SMB Holding Corporation, an Uber subsidiary.
- Plus up to $300m of milestone-based capital tied to robotaxi deployment, outside the Series D.
Source: Sonde analysis of Companies House filings; Uber's annual report; PA, Reuters and AFP on the launch.
Other robotaxi services are on the way in London: Waymo says it intends to carry passengers with nobody behind the wheel by the end of 2026, subject to approval, and Lyft plans a service with Baidu in 2027.
Does Wayve make money?
Not yet. Wayve's latest accounts, for the year to 31 August 2024, show a loss before tax of £62.1m and no turnover line. The loss has grown every year as it built and tested its software, from £12.0m in the year to August 2021.
Source: Wayve's filed accounts at Companies House.
| Year to 31 August 2024 | Group accounts |
|---|---|
| Loss before tax | £62.1m |
| Staff costs | £35.7m |
| Investment income on cash | £17.5m |
| Cash and cash equivalents at year end | £886.6m |
| Accumulated losses at year end | £132.4m |
| Highest-paid director | £317k (£169k a year earlier) |
Source: Wayve Technologies Ltd group accounts filed at Companies House. The FY2021 figure is the unaudited comparative in the FY2022 accounts.
The next accounts are not yet filed. Wayve moved its year end from August to December in July 2025, so its next accounts cover the 16 months to 31 December 2025. Companies House shows them due by 31 December 2026; they had not been filed when we checked on 8 October 2026. They will be the first accounts since August 2024.
How many people work at Wayve?
Wayve employed 263 people on average in the year to August 2024, according to its accounts, up from 35 in the year to August 2019. Tech.eu reported in July 2025 that the number was understood to have reached about 650.
Source: Wayve's filed accounts at Companies House.
Who founded Wayve?
Alex Kendall and Amar Shah founded Wayve, then machine learning PhD students at the University of Cambridge, and incorporated it on 21 August 2017. Kendall is its chief executive. Together they held 72.5% of the shares after the seed round. The new shares issued since, in funding rounds and to staff, have brought that to 12.5%.
Source: Sonde analysis of Companies House filings (CS01 confirmation statements).
The 2026 figure includes 257,115 growth shares issued in February 2026, alongside the Series D. Growth shares usually carry value only above a set share price.
The board. Wayve has four directors: Kendall and three appointed as funding rounds closed, from Eclipse (2019, the Series A), SoftBank (2024, the Series C), and Balderton (2026, the Series D).
Wayve timeline
Uber and Wayve start supervised robotaxi rides across London, airports excepted: the first robotaxi service in the city. Fewer than 20 cars at launch, with a safety driver in each.
Transport for London grants minicab licences for the cars.
Staff sell $85m of shares in an auction on the London Stock Exchange's Private Securities Market, its first transaction.
A further £37.0m of Series D shares is issued, not announced.
AMD, Arm and Qualcomm Ventures invest $60m, extending the Series D.
Nissan, Uber and Wayve announce a Tokyo robotaxi pilot, planned for late 2026.
Series D: $1.2bn at an $8.6bn post-money valuation, plus up to $300m of milestone-based capital from Uber.
Nvidia signs a letter of intent to consider a $500m investment in the next round.
Uber invests, extending the Series C, and agrees to put Wayve-powered cars on its network.
Series C: $1.05bn led by SoftBank, with Nvidia and Microsoft, then the largest funding round for a European AI startup.
Series B: $200m led by Eclipse.
Ocado invests £10m and starts a delivery van trial.
Series A: $20m led by Eclipse, to launch a test fleet in London.
Registered office moves from Cambridge to London.
Incorporated by Alex Kendall and Amar Shah, then machine learning PhD students at the University of Cambridge.
Method
Where these numbers come from
Everything marked as from the filings is Sonde's analysis of what Wayve Technologies Ltd (company 10924127) has filed at Companies House, checked against the documents themselves on 8 October 2026.
- Rounds and prices come from Wayve's 95 SH01 returns of allotment, which state the shares issued and the amount paid for each. Where Wayve filed a corrected version (an RP04 second filing; it has filed 47), we use the correction. Option exercises and other small issues are left out of the round totals.
- A check against the accounts. Shares allotted in the rounds up to 31 August 2024 add up to £1.01bn. The share capital and share premium in Wayve's balance sheet at that date total £1.01bn. The two agree to within £1.9m, or 0.19%, which option exercises and other small issues account for.
- Valuations are each round's price times the shares in issue after its last allotment, from the statement of capital on that SH01, less deferred shares. They are not the announced, fully diluted figures.
- Ownership is from the confirmation statement made up to 20 August 2026. We group an investor's funds, list the registered names and do not value individuals' holdings. The founders' stake in each year is their ordinary and growth shares over all issued shares on that year's statement.
- Dollars use the Bank of England's daily spot rate (series XUDLUSS) on the day each round was announced; for rounds never announced, on the round's first allotment.
- Announced and reported figures are labelled as such and linked below. We have not verified them against the filings unless we say so.