Wayve autonomous driving start-up backed by Microsoft, Virgin

LONDON — U.K. autonomous driving start-up Wayve has been backed by a host of big name investors including Microsoft, Virgin and Baillie Gifford in a $200 million funding round that brings total investment in the company up to $258 million.

Wayve did not disclose its new valuation but it’s likely to be in excess of $1 billion, which would make it a so-called “unicorn” company.

Founded in London in 2017, Wayve’s team of machine-learning scientists and roboticists are trying to build an autonomous driving system that’s underpinned by AI.

Alex Kendall, the New Zealander who co-founded Wayve, told CNBC that his firm’s approach is “quite contrarian”…