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Self-Driving Firm Wayve Files Share Sale on LSE's New PSM

July 1, 2026 at 06:46 EDT

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Robotics
Funding & M&A

UK autonomous driving software company Wayve Technologies has filed to sell shares on the London Stock Exchange's newly created Private Securities Market (PSM), a platform for privately held companies. It becomes the first major company to use the venue, with a closed auction planned for July 8, 2026.

Autonomous Driving · Private Markets

Wayve Becomes First Major Company to Trade on London's New Private Securities Market

The UK self-driving software firm — valued at $8.6B — will auction existing shares on July 8, marking the first large-scale use of the LSE's PISCES framework, which brings liquidity to private stock without a full IPO.

$8.6B

Post-money valuation (Feb 2026)

$1.2B

Series D raise (up to $1.5B)

~$2.6B

Total raised since 2017

1st

Company to use the PSM (PISCES)

Raise vs. Valuation

Each block ≈ $1B — the Series D round vs. the resulting company value.

$1.2B

Series D raise

$8.6B

Post-money valuation

How the PSM works

Existing holders

Shareholders & employees offer shares — no new stock issued.

→

Periodic auction

Company controls frequency & who can take part; July 8 sale.

→

Liquidity, no IPO

Disclosure via a dedicated portal, staying private.

Advantages

Industrialized end-to-end "embodied AI" — no HD maps or costly sensors
Capital-efficient OEM licensing (Mercedes, Nissan ProPilot targeted 2027)
Backing from Uber, NVIDIA, Microsoft, SoftBank & major automakers

Challenges

Intensifying competition with Waymo, Tesla and Baidu robotaxis
Regulatory and technical hurdles to commercial deployment
PSM still early — Wayve is the first, untested large-scale case

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