TORONTO – Waabi, a leading autonomous trucking company, announced today that Volvo Group Venture Capital (VGVC) has made a strategic investment in the company. This investment is a significant milestone for Waabi, which launched in 2021 with the mission of building a pathway to autonomous driving at scale.
Since its launch, Waabi has celebrated numerous milestones and has brought its mission closer to reality than ever before. With this new partnership, Waabi will join the Volvo Group family and will work closely with the company to explore ways to cooperate and unlock opportunities for global commercialization.
Volvo Group will add considerable value through its industry network and strategic outlook to help Waabi’s business development and accelerate the deployment of its autonomous technology. Both companies share a core belief and commitment to safety and this is evident through the company’s differentiated approach to autonomy using its groundbreaking AI technology.
For example, its revolutionary high-fidelity close loop simulator, Waabi World, uses AI to expose the self-driving “brain” to the vast diversity of experiences needed to sharpen its driving skills, including both common driving scenarios and safety-critical edge cases. This significantly reduces the need to drive testing miles in the real world and results in a much safer solution that will help Waabi to unlock the potential of self-driving vehicles sooner.
This investment rounds out a busy year of accomplishments for the company, which debuted Waabi World in early 2022 and recently unveiled the Waabi Driver, its core autonomous trucking solution designed for large-scale commercialization and safe deployment.
With the backing of Volvo Group and other prominent investors such as Khosla Ventures, Uber, Radical Ventures, 8VC, OMERS Ventures, and BDC, Waabi is well positioned to support the trucking industry and its partners. The company is starting 2023 with great momentum and palpable excitement, and looks forward to sharing more fantastic things to come.
