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Waabi secures $200 million USD to deploy driverless trucks by 2025, leveraging generative AI for groundbreaking advancements in autonomous vehicle technology.
Key Highlights:
- Funding Round: Waabi raised $200 million USD in a Series B round, led by Uber and Khosla Ventures, with participation from NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, and others.
- Investment Purpose: The funding will support Waabi’s deployment of fully driverless, AI-powered autonomous trucks in 2025, bringing total investment in Waabi to over $280 million USD.
- Technological Innovation: Waabi’s generative AI technology enables rapid development and cost efficiency, propelling the company towards Level 4 autonomy in just three years.
Waabi’s Technological Breakthroughs:
Waabi has developed a unique end-to-end AI system capable of human-like reasoning, allowing it to handle unforeseen road situations. This system requires significantly less training data and compute resources than traditional approaches, and its safety can be validated and verified. Combined with Waabi World, an advanced simulator, this technology reduces the need for extensive on-road testing and ensures a scalable, highly performant solution from the outset.
Raquel Urtasun, Founder and CEO of Waabi, stated, “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. 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.”
Strategic Partnerships and Industry Support:
Waabi’s latest funding round features backing from top industry leaders and innovators, ensuring robust support for the company’s ambitious goals. Key investors include:
- Uber: Dara Khosrowshahi, CEO, highlighted the potential of autonomous technology to revolutionize transportation.
- Khosla Ventures: Vinod Khosla emphasized Waabi’s role in challenging the status quo and transforming transportation with generative AI.
- NVIDIA: Jensen Huang praised Waabi’s use of cutting-edge AI for autonomous trucking, powered by NVIDIA technology.
- Volvo Autonomous Solutions: Nils Jaeger stressed the importance of continued investment in autonomous driving for economic growth.
- Porsche Automobil Holding SE: Lutz Meschke noted the potential of Waabi’s AI-powered approach to address industry challenges.
- Ingka Investments: Peter van der Poel aligned Waabi’s advancements with sustainable transportation solutions.
Future Plans:
The new capital will enable Waabi to grow its commercial operations and expand its team in Canada and the United States. Recent milestones include opening a new Texas AV trucking terminal, integrating NVIDIA DRIVE Thor into the Waabi Driver, and partnering with Uber Freight for autonomous shipments.
About Waabi:
Founded by AI visionary Raquel Urtasun, Waabi is at the forefront of generative AI for the physical world, initially revolutionizing the autonomous trucking industry. Supported by top investors across various sectors, Waabi is committed to shaping the future of transportation and solidifying Canada’s leadership in AI.
For more information, visit Waabi’s website or follow them on X or LinkedIn.
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