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Waabi

Waabi Lands Largest Canadian Tech Round

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Toronto-based autonomous vehicle startup Waabi raised US$750 million in all-equity Series C financing, the largest funding round in Canadian tech history. Founder and chief executive Raquel Urtasun said the primary capital accelerates Waabi’s physical AI platform, commercial self-driving trucks, and expansion into robotaxis through an exclusive partnership with Uber.

The round was co-led by Khosla Ventures and G2 Venture Partners, with participation from Nvidia, Porsche, Volvo, Radical Ventures, BDC Capital, Export Development Canada, BlackRock-managed funds, and others. The raise surpasses Canadian megadeals and brings Waabi’s funding to US$1.28 billion globally.

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Toronto’s Waabi Pursues US$3B Valuation in Major Raise

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Waabi is reportedly in discussions to raise US$750 million at a US$3 billion valuation, positioning the Toronto autonomous-trucking developer for one of Canada’s largest early-stage financings. The round is said to be co-led by Khosla Ventures and G2 Venture Partners, with Uber preparing a US$250-million commitment.

The talks surface as Waabi nears a major milestone—the planned launch of fully driverless trucks by year-end—supported by ongoing integration of its system into Volvo vehicles. The company faces formidable rivals, including Waymo, Tesla, Gatik, and Uber-backed automation initiatives. Waabi’s 2024 Series B ranked among Canada’s largest AI investments.

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Uber Freight Founder Joins Toronto’s Waabi

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Toronto-based Waabi has appointed Lior Ron, founder of Uber Freight, as chief operating officer. Based in California, Ron will focus on commercializing Waabi’s autonomous trucking technology through meetings with supply chain executives. Waabi is currently testing driverless trucks in Texas, aiming for deployment without drivers by year’s end.

CEO Raquel Urtasun says expanding the client base is a priority. Ron’s career includes leading Google Maps development and creating early iPhone competitors at Motorola. He praised Waabi’s scalable technology and meritocratic culture, noting Uber Freight’s success serving Fortune 500 clients.

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Toronto’s Waabi Partners with Volvo on Autonomous Trucks

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Toronto-based Waabi has entered a strategic partnership with Volvo Autonomous Solutions to develop and deploy autonomous trucks. The collaboration integrates Waabi’s AI-powered Waabi Driver with Volvo’s VNL Autonomous truck, built for safe and scalable self-driving operations.

Waabi CEO Raquel Urtasun emphasizes OEM integration as key to mass adoption. Volvo and Waabi plan to begin testing in 2025, aiming to revolutionize North America’s $1 trillion freight industry. Volvo first invested in Waabi in 2023, later joining its $200M Series B round. This partnership strengthens their push toward safer, more efficient transportation.

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Toronto’s Waabi Raises $200M to Launch Driverless Trucks

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Toronto’s Waabi has raised $200 million USD in an oversubscribed Series B round led by Uber and Khosla Ventures, bringing its total investment to over $280 million USD. Key investors include NVIDIA, Volvo Group Venture Capital, and Porsche Automobil Holding SE. The funds will support the deployment of Waabi’s generative AI-powered autonomous trucks by 2025.

Waabi’s end-to-end AI system, capable of human-like reasoning and requiring less training data, represents a significant breakthrough in autonomous vehicle technology. Founder and CEO Raquel Urtasun highlights this as a monumental step for AI in the physical world.

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Toronto’s Waabi Joins Forces with Uber Freight for Autonomous Freight Transport

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Autonomous trucking startup Waabi has partnered with Uber Freight for a decade-long venture, committing substantial driverless capacity to Uber’s network.

Waabi’s initial phase involves commercial pilots transporting goods between Dallas and Houston. They plan to introduce a “Driver-as-a-Service” model, allowing carriers to opt into the Uber Freight marketplace using Waabi’s driver technology.

Waabi’s AI-driven approach, utilizing the Waabi World simulator, enables rapid deployment and scaling. This collaboration marks Waabi’s first public commercial partnership, showcasing their ambitious entry into the market.

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