TLDR:
- Waabi, a Toronto-based company, has raised $200 million in Series B funding.
- The funding will support the deployment of fully driverless, generative AI-powered autonomous trucks in 2025.
Waabi, a Toronto-based company specializing in generative AI for the physical world, has secured $200 million in Series B funding. The round was led by Uber and Khosla Ventures, with participation from strategic investors such as 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, and others.
Founded by Raquel Urtasun, Waabi is at the forefront of applying generative AI to revolutionize the autonomous trucking industry. The company has developed an end-to-end AI system capable of human-like reasoning, enabling it to adapt to various road situations, even ones it has never encountered before. This system requires less training data and compute resources compared to other approaches, is fully interpretable, and its safety can be validated and verified.
Waabi’s AI system, in conjunction with Waabi World, an advanced simulator, reduces the need for extensive on-road testing, providing a safer, more efficient solution that is highly performant and scalable from the outset. The $200 million in Series B funding will support the company’s goal of deploying fully driverless, generative AI-powered autonomous trucks in 2025, cementing their position as leaders in AI-driven innovation for the physical world.
