An autonomous trucking company founded by University of Toronto researcher Raquel Urtasun has raised US$750 million to accelerate the commercialization of its self-driving technology, as well as another US$250 million in milestone-based funding from Uber to expand into robotaxi deployment, according to TechCrunch.
Waabi CEO Raquel Urtasun, a professor of computer science in U of T's Faculty of Arts & Science, sits in the cab of a truck equipped with self-driving technology (photo by Nick Iwanyshyn)
The financing was co-led by Khosla Ventures and G2 Venture Partners and included funding from the investment arms of artificial intelligence chip giant NVIDIA and automakers Volvo and Porsche.
"We're going to enter and deploy in robotaxi markets much faster than you've seen to date," Urtasun, who is Waabi's CEO, told the Globe & Mail.
Urtasun, a professor of computer science in U of T's Faculty of Arts & Science, formerly headed up Uber's self-driving car lab in Toronto before going on to found Waabi in 2021. A faculty member at the Vector Institute, Urtasun said in a press release that the startup's Physical AI platform has enabled it to outpace competitors in the autonomous trucking space.
"Our current self-driving capabilities across highways and generalized surface streets have unlocked a new direct-to-customer model that for the first time solves the pain points of the industry and provides an unprecedented opportunity to quickly and seamlessly enter the robotaxi market, delivering a truly scalable solution for both verticals."
Read more about Waabi in TechCrunch
