.png){kind=logo}
Wayve raised $1.2 billion at an $8.6 billion valuation, showing strong investor belief in scalable self-driving software
Axelera AI secured over $250 million to expand its edge AI chip production, highlighting growing demand for energy-efficient, privacy-focused AI hardware.
In all five deals, investors focused on companies solving clear operational problems in sectors like transportation, accounting, restaurants, and chip design.
The week of February 24-25, 2026, was a busy one for AI investment. From chip makers in Europe to voice bots in New York restaurants, money flowed into companies that solve very specific, real-world problems. The rounds ranged from a $1.7 million pre-seed startup in India to a $1.2 billion late-stage raise in London. Investors seem less interested in funding AI for its own sake. The focus is more on backing teams that have already found real customers and are starting to scale.
Here is a look at the top five funding deals that stood out and what they tell us about where AI is heading next.
The biggest deal of the week came out of Eindhoven, Netherlands. Axelera AI, which builds chips designed to run AI at the edge, meaning on local gadgets rather than in distant data centers, closed a round worth more than $250 million. Investors include BlackRock, Samsung Catalyst Fund, Verve Investments, and other European institutions. The company has now raised more than $450 million in total since it started in 2021.
The core idea behind Axelera is simple; data centers suffer from power and cooling limit issues. Running AI closer to where data is created uses less energy, saves money, and keeps user data private. The company already ships to over 500 customers in sectors like defense, retail, agriculture, and robotics. The new money goes toward scaling up production and growing its partner network.
London-based Wayve had the largest single round of the week. The company raised $1.2 billion in a Series D. This pushed its valuation to $8.6 billion. Uber, Microsoft, and NVIDIA all joined the round, alongside car makers Mercedes-Benz, Nissan, and Stellantis.
What sets Wayve apart is its approach to self-driving. Rather than building maps city by city, the company’s AI learns to drive from diverse data across more than 70 countries. In the past year alone, it drove in more than 500 cities across Europe, North America, and Japan without any location-specific setup beforehand. The plan is to launch robotaxi trials with Uber in London in 2026 and start putting its software in consumer cars from 2027.
AI is also making moves in accounting. Basis, which builds AI agents for accounting firms, raised $100 million in a Series B. It was led by Accel, with Google Ventures and former Goldman Sachs CEO Lloyd Blankfein. The company is now valued at $1.15 billion.
Basis targets a real pain point; accounting firms are short on staff while client demands keep going up. Its AI agents can read financial data, learn how a specific client works, and handle tasks on their own before handing the results to a human for review. Basis says it now works with 30% of the top 25 accounting firms in the US. The funding will go toward building more capable agents and hiring engineers.
Also Read: NVIDIA to Invest $30B in OpenAI, Unfinished $100B Multi-Year Plan to be Replaced
In a much smaller but focused deal, Slang AI raised $36 million in a Series B led by US Venture Partners, bringing its total raised to $68 million. The New York company builds voice AI specifically for restaurants, handling inbound calls for reservations, private dining, catering, and general questions. It works with systems like OpenTable and SevenRooms and serves more than 2,000 restaurant locations. The new money will help Slang move beyond voice into other parts of the guest experience, from personalized suggestions to post-visit follow-ups.
The smallest deal of the week, but one worth watching, came from Bengaluru. Tattvam AI raised $1.7 million in a pre-seed round led by Seedcamp to bring AI into the chip design process itself. Designing a chip today takes years of manual work. Tattvam wants to cut that down by using AI that can reason about circuit structures and trade-offs from first principles, rather than relying on general-purpose models. The founders previously worked at chip startups in the UK, and the funding will go toward building out the team and getting the platform to market.
Also Read: India Joins Pax Silica as US Cuts 25% Tariffs; $32.5B AI Investments Announced
The common thread in all five deals is that AI is moving from labs into real operations, in cars, kitchens, accounting offices, and chip factories. Investors now back companies that solve specific, expensive problems instead of offering general-purpose AI tools. Energy efficiency, data privacy, and staff shortages all drive demand, and the money this week suggests that this trend only gets stronger.
1. What was the biggest AI funding deal of the week?
The largest deal was closed by Wayve, a London-based self-driving software company. Wayve raised $1.2 billion in its Series D round, reaching a valuation of $8.6 billion. Major backers included Uber, Microsoft, NVIDIA, and global automakers. This round shows that investors strongly believe in AI systems that can scale globally without needing city-by-city customization.
2. Why did Axelera AI raise money?
Axelera AI raised over $250 million to expand production of its edge AI chips. These chips allow AI models to run directly on devices instead of relying on distant cloud data centers. This approach saves energy, reduces latency, and improves privacy. The company already serves over 500 customers and plans to grow its manufacturing and partnerships further.
3. How is AI changing the accounting industry?
Basis raised $100 million to build AI agents for accounting firms. These agents can read financial documents, learn how each client operates, and complete routine accounting tasks before a human reviews them. This helps firms handle staff shortages and rising workloads. Basis now works with 30% of the top 25 accounting firms in the US, showing strong market demand.
4. What does Slang AI do for restaurants?
Slang AI builds voice AI systems that answer restaurant phone calls. The system handles reservations, catering requests, private dining inquiries, and common questions. It integrates with tools like OpenTable and SevenRooms and serves over 2,000 restaurant locations. The new funding will help Slang expand beyond phone calls into personalized guest communication and follow-ups.
5. What is Tattvam AI small funding about?
Tattvam AI raised $1.7 million in a pre-seed round to improve chip design using AI. Designing semiconductors usually takes years of manual work. Tattvam aims to shorten that timeline by building AI systems that understand circuit trade-offs from first principles. Even though the funding amount is small, it addresses a critical bottleneck in the global semiconductor industry.
