Self-driving startup Waabi raises up to US$1 billion

Waabi said it secured US$750 million plus US$250 million in milestone-based funding from Uber to support commercialization of its self-driving systems and expansion into robotaxi deployment, with the round co-led by Khosla Ventures and G2 and including investments from NVIDIA, Volvo and Porsche.

Waabi, an autonomous trucking company founded by University of Toronto researcher Raquel Urtasun, announced new financing intended to accelerate commercialization of its self-driving technology and to support expansion into robotaxi deployment. The company reported US$750 million in raised capital alongside US$250 million in milestone-based funding from Uber. The financing was co-led by Khosla Ventures and G2 Venture Partners and included investment arms of NVIDIA and automakers Volvo and Porsche. Urtasun, who founded Waabi in 2021 and previously led Uber’s self-driving lab in Toronto, said the company’s Physical AI platform has advanced its capabilities across highways and generalized surface streets. Key details: - Total reported funding: US$750 million raised plus US$250 million in milestone-based funding from Uber. - Lead investors named as Khosla Ventures and G2 Venture Partners; the round included investments tied to NVIDIA, Volvo and Porsche. - Waabi was founded in 2021 by Raquel Urtasun, a University of Toronto faculty member and former head of Uber’s self-driving car lab in Toronto. - Company statement attributes progress to its Physical AI platform and reports readiness to expand from trucking into robotaxi deployment. - The funds are described as intended to speed commercialization of Waabi’s self-driving systems and to support robotaxi work. Summary: The announced financing is presented as a move to accelerate Waabi’s commercialization efforts in autonomous trucking and to fund planned robotaxi deployment. Company leadership reported plans to enter robotaxi markets faster than earlier efforts. Undetermined at this time.