WASHINGTON (dpa-AFX) - 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.
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