Design Engineering

Waabi raises US$200M to launch fully driverless trucks in 2025

By DE Staff   

Automation Automotive autonomous vehicles Waabi

Toronto-based Waabi has raised US$200 million in an oversubscribed Series B round, led by Uber and Khosla Ventures.

The new funding, which brings total investment in Waabi to more than US$280 million, will support the company’s deployment of fully driverless, generative AI-powered autonomous trucks in 2025.

The Series B round includes participation from best-in-class strategic investors NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest and Ingka Investments. Additional financial investors include HarbourVest Partners, G2 Venture Partners, BDC Capital’s Thrive Venture Fund, Export Development Canada, Radical Ventures, Incharge Capital, and others.

Only three years on from the company’s inception, Waabi says it’s “on the verge of reaching Level 4 autonomy” through the company’s “revolutionary approach” to unleashing generative AI in the physical world.

Waabi has pioneered a single end-to-end AI system that is capable of human-like reasoning, enabling it to generalize to any situation that might happen on the road, including those it has never seen before. Because it is able to reason, the system requires significantly less training data and compute resources compared to other end-to-end approaches.

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Further departing from these approaches, Waabi’s system is fully interpretable, and its safety can be validated and verified. The innovation marks a first across autonomous vehicles and AI systems deployed in the physical world. This end-to-end AI system, paired with Waabi World, the world’s most advanced simulator, reduces the need for extensive on-road testing and enables a safer, more efficient solution that is highly performant and scalable from day one.

“I have spent most of my professional life dedicated to inventing new AI technologies that can deliver on the enormous potential of AI in the physical world in a provably safe and scalable way,” said Raquel Urtasun, founder and CEO of Waabi. “Over the past three years, alongside the incredible team at Waabi, I have had the chance to turn these breakthroughs into a revolutionary product that has far surpassed my expectations. We have everything we need—breakthrough technology, an incredible team, and pioneering partners and investors—to launch fully driverless autonomous trucks in 2025. This is monumental for the industry and truly marks the beginning of the next frontier for AI.”

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