Autonomous vehicle firm Waabi has secured a landmark $750 million USD Series C, the largest fundraise in Canadian history, to advance its Physical AI platform. The round, co-led by Khosla Ventures and G2 Venture Partners, includes a potential $250 million future investment from Uber. This capital will accelerate Waabi's autonomous trucking commercialization and fuel its expansion into the robotaxi market via an exclusive partnership.
A Record-Breaking Capital Infusion
The funding attracted a consortium of global leaders in technology and transportation, underscoring strong confidence in Waabi's vision. Strategic investors include Uber, NVentures, and Volvo Group Venture Capital, alongside financial heavyweights like BlackRock and Radical Ventures. This diverse backing highlights the industry-wide belief in the company's unique approach to solving autonomous driving at scale.
This capital will accelerate the commercialization of Waabi's autonomous trucks and support its ambitious entry into the robotaxi market. The company will enhance its Physical AI Platform, which is central to its strategy for scalable deployment. This financial backing provides a substantial runway for Waabi to execute its dual-vertical growth plan and solidify its market leadership.
A New Paradigm in Autonomous Technology
At the core of Waabi's strategy is its revolutionary Physical AI Platform, featuring a single AI model for both trucks and robotaxis. This unified "brain" is developed within Waabi World, one of the world's most advanced neural simulators. This simulation-first methodology enables rapid, safe, and capital-efficient development, contrasting with traditional road-testing approaches.
This innovative platform enables a shared brain across both vehicle types, meaning advancements in one application directly benefit the other. According to CEO Raquel Urtasun, this synergy unlocks a rapid and seamless expansion into robotaxis. It ensures progress in both verticals contributes to the Waabi Driver's overall capabilities.
Forging a Strategic Alliance with Uber
Building on its progress in trucking, Waabi is launching its robotaxi application through an exclusive partnership with Uber. The collaboration aims to deploy 25,000 or more Waabi Driver-powered autonomous vehicles on the Uber platform. This alliance is supported by Uber's milestone-based investment, designed to substantially accelerate the adoption of robotaxis.
For Waabi founder and CEO Raquel Urtasun, who previously served as Uber's chief scientist, the partnership marks a significant full-circle moment. Uber CEO Dara Khosrowshahi expressed excitement about deepening the partnership as Waabi enters a new phase. The deal solidifies Waabi's position as a key technology provider for Uber's future autonomous network.
Navigating a Competitive Future
Waabi enters the fiercely competitive robotaxi market, where players like Waymo and other Uber partners are already operating. The company also faces rivals such as Aurora and Tesla in the autonomous trucking sector. However, Waabi's leadership believes its AI-driven model and late-mover advantage provide a distinct edge in achieving scalability.
The company has already demonstrated its system's maturity through freight operations in Texas, covering highways and complex surface streets. Urtasun asserts that these core capabilities are directly transferable to the robotaxi application, signaling confidence in the technology's readiness. This provides a strong foundation for the imminent launch of its robotaxi services with Uber.
Waabi's historic funding round and strategic alliance with Uber represent a pivotal moment for the autonomous vehicle industry. The capital injection validates its simulation-first, Physical AI approach and positions the company to disrupt both trucking and ride-hailing. As Waabi scales its operations, its unified technology platform could set a new standard for deploying safe, scalable autonomous solutions.