Canadian autonomous trucking startup Waabi Innovation Inc. has successfully secured $750 million in a recent funding round, alongside a potential future investment of up to $250 million from Uber Technologies Inc. This partnership aims to deploy Waabi’s advanced robotaxis, powered by its proprietary Waabi Driver, exclusively on Uber’s platform.
The substantial funding will further enhance Waabi’s Physical AI Platform, accelerating advancements in autonomous trucking and expanding its reach into the emerging robotaxi market. Established in 2021, Waabi is dedicated to creating a general-purpose artificial intelligence system capable of operating autonomous vehicles reliably in real-world conditions. Its integration of extensive machine learning with a deep understanding of physics enables its systems to reason, predict, and perform effectively in complex environments.
The Waabi Driver is designed to be versatile, adapting to various vehicle platforms and road scenarios without extensive retraining, a noteworthy distinction from traditional autonomy solutions reliant on rigid, hand-coded rules.
“Waabi’s Physical AI Platform has propelled us to industry-leading progress in the development and commercialization of autonomous trucks in recent years,” said Raquel Urtasun, CEO and founder of Waabi. “With our current self-driving capabilities tailored for highways and diverse urban environments, we are uniquely positioned to transition into the robotaxi sector, offering a scalable solution for both industries.”
The latest funding round, part of Waabi’s Series C, was primarily led by Khosla Ventures and G2 Venture Partners, with contributions from various investors, including Uber, NVentures, Volvo Group Venture Capital, and several others.
Vinod Khosla, founder of Khosla Ventures, emphasized, “We invest in companies at the forefront of the AI revolution. Waabi’s innovative Physical AI platform signifies a monumental advancement in the development of next-generation driverless technologies.”
In addition to the financial backing, the partnership will enable Waabi to enter the robotaxi arena, with plans for deploying 25,000 Waabi Driver-powered robotaxis over time, supported by milestone-based investments from Uber.
“We’re thrilled to deepen our collaboration with Waabi as they markedly scale their Physical AI Platform and embark on this exciting new chapter,” stated Dara Khosrowshahi, CEO of Uber.
Key Highlights:
– Waabi raises $750 million and secures a partnership with Uber for robotaxis.
– Funding will enhance Waabi’s Physical AI Platform for autonomous vehicles.
– Waabi Driver designed for adaptability across varied scenarios and vehicle types.
– Plans include deployment of 25,000 robotaxis, marking a significant industry milestone.
