• Wayve, a British startup focused on developing autonomous driving technology, has raised $1 billion in a Series C funding round. The round was led by new investors including Baillie Gifford, Microsoft, and Amadeus Capital Partners, and saw participation from existing investors such as Eclipse Ventures, Nationwide Building Society, and Founders Fund.

• The company's technology differs from traditional self-driving car approaches by using machine learning and artificial intelligence to teach vehicles how to navigate roads, rather than relying on detailed maps and sensors. Wayve's approach aims to be more scalable and adaptable to different driving environments.

• With the new funding, Wayve plans to expand its team, accelerate the development of its autonomous driving technology, and prepare for commercial deployments. The company believes its approach has the potential to transform the future of transportation and make self-driving cars a reality in a more efficient and cost-effective manner.