Waabi Raises $200M in Series B to Launch Driverless AI-Powered Trucks by 2025

Company Name: Waabi
Location: Toronto, Canada
Sector: Technology, Autonomous Vehicles
Funding Details: Raised $200 million (USD) in Series B funding, bringing the total investment to over $280 million (USD). The round was led by Uber and Khosla Ventures, with participation from NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest Partners, G2 Venture Partners, BDC Capital’s Thrive Venture Fund, Export Development Canada, Radical Ventures, Incharge Capital, and others.

Purpose of Investment: To support the deployment of fully driverless, generative AI-powered autonomous trucks in 2025.

Leadership: Founded by Raquel Urtasun.

Product: Waabi is advancing generative AI for the physical world, initially focusing on transforming the autonomous trucking industry. The company has developed a single end-to-end AI system capable of human-like reasoning, which allows it to handle any on-road situation, even those it has not previously encountered. This system is highly efficient, requiring less training data and compute resources than traditional models. It is also fully interpretable, with validated and verified safety measures. Coupled with Waabi World, an advanced simulator, the technology reduces the need for extensive on-road testing, facilitating a safer, more efficient, and scalable solution.

About Company: Waabi is pioneering the application of generative AI in the physical world, starting with the autonomous trucking sector. The company aims to revolutionize how autonomous vehicles are developed and deployed, ensuring that they are safe, efficient, and scalable. With a significant infusion of capital, Waabi is well-positioned to achieve its goal of launching fully autonomous trucks by 2025, promising to make a substantial impact on the transportation industry.