Saturday, July 20, 2024
HomeFunding Canada-based Waabi Raises $200M USD to Launch Fully Driverless Trucks in...

[Funding News] Canada-based Waabi Raises $200M USD to Launch Fully Driverless Trucks in 2025

Waabi, a company pioneering generative AI for the physical world, today announced it has raised $200 million (USD) in an oversubscribed Series B round, led by Uber and Khosla Ventures. The new funding, which brings total investment in Waabi to more than $280 million (USD), will support the company’s deployment of fully driverless, generative AI-powered autonomous trucks in 2025.

Waabi, a company pioneering generative AI for the physical world, today announced it has raised $200 million (USD) in an oversubscribed Series B round, led by Uber and Khosla Ventures. The new funding, which brings total investment in Waabi to more than $280 million (USD), will support the company’s deployment of fully driverless, generative AI-powered autonomous trucks in 2025.

Read also – [Funding News] MA-based Entro Security Secures $18Million in Series A Round Funding

The funding 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.

Read also – [Funding News] CA-based Proofs Secures $2.6Million in Pre-Seed Funding

“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.”

The new capital will also be used to grow Waabi’s commercial operations and expand the company’s team in both Canada and the United States. It builds on recent momentum for Waabi including the opening of its new Texas AV trucking terminal, a collaboration with NVIDIA to integrate NVIDIA DRIVE Thor into the Waabi Driver, and its ongoing partnership with Uber Freight, running autonomous shipments for Fortune 500 companies and top tier shippers in Texas.

About Waabi

Waabi, founded by AI visionary Raquel Urtasun in 2021, is pioneering generative AI for the physical world, first by applying this technology to overhaul the autonomous trucking industry. Startup 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.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular