Waabi has raised $200 million USD in Series B funding to launch AI-powered trucks in 2025.
Takeaway Points
- Waabi has raised $200 million USD in Series B funding to launch AI-powered trucks in 2025.
- The funding round includes participation from best-in-class strategic investors like NVIDIA, Volvo Group Venture Capital, etc.
- On March 18, 2024, Waabi partnered with NVIDIA to deliver the first generative AI-powered autonomous trucking solution to market.
Waabi Series B Funding
Waabi, a company pioneering generative AI for the physical world, announced on Tuesday in Toronto that it has raised $200 million (USD) in a Series B funding, led by Uber and Khosla Ventures. According to the report, the new funding, which brought more than $280 million (USD) to Waabi, will support the company’s aim to launch fully driverless, generative AI-powered autonomous trucks in 2025.
The funding round includes participation from best-in-class strategic investors like 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, according to the report.
Raquel Urtasun, founder and CEO of Waabi, said in a comment about the new funding that in more than three years, she and the team at Waabi have “turned these breakthroughs into a revolutionary product” that has exceeded her expectations.
“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. 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,” Raquel said.
Vinod Khosla, founder of Khosla Ventures, commented, “Change never comes from incumbents but from the innovation of entrepreneurs that challenge the status quo. Raquel and her team at Waabi have done exactly that with their products and business execution. We backed Waabi very early on with the bet that generative AI would transform transportation and are thrilled to continue on this journey with them as they move towards commercialization.”
Dara Khosrowshahi, CEO of Uber, said, “We are big believers in the potential for autonomous technology to revolutionize transportation, making a safer and more sustainable future possible. Raquel is a visionary in the field and, under her leadership, Waabi’s AI-first approach provides a solution that is extremely exciting in both its scalability and capital efficiency.”
Waabi partnered with NVIDIA to bring the first generational AI-powered trucking solution to market.
On March 18, 2024, Waabi announced it had partnered with NVIDIA to deliver the first generative AI-powered autonomous trucking solution to market. According to the report, Waabi will integrate the next-generation NVIDIA DRIVE Thor into its breakthrough autonomous trucking solution.
The partnership was announced during NVIDIA GTC (a global AI conference), which runs March 18–21 at the San Jose Convention Center and online. Waabi CEO Raquel Urtasun presented on March 19.
About Waabi
Waabi, founded by AI visionary Raquel Urtasun, is a pioneering generative AI for the physical world, first by applying this technology to overhaul the autonomous trucking industry. Waabi is backed by best-in-class investors across the technology, AI, automotive, logistics, and Canadian innovation ecosystems, including Khosla Ventures, Uber, NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, BDC, EDC, Radical Ventures, Incharge Capital, and others.
