Prime Highlight:
- Waabi raised $750 million in a Series C round to expand its self-driving technology beyond trucking into robotaxi services.
- Uber committed an additional $250 million, with plans for Waabi to deploy at least 25,000 autonomous vehicles on Uber’s ride-hailing platform.
Key Facts:
- The funding round was co-led by Khosla Ventures and G2 Venture Partners and ranks among the largest venture raises by a Canadian tech startup.
- Waabi is headquartered in Toronto, operates in Texas, and was founded by Raquel Urtasun, former chief scientist at Uber’s Advanced Technologies Group.
Background:
Toronto-based autonomous trucking startup Waabi has raised $750 million in a Series C funding round as it prepares to expand its self-driving technology into robotaxi services. The company announced the funding on Wednesday, calling it a major step toward scaling its “physical AI” platform across vehicle types.
The funding round was co-led by Khosla Ventures and G2 Venture Partners and ranks among the largest venture raises ever by a Canadian technology startup. Waabi is currently ranked 35 on CNBC’s 2025 Disruptor 50 list and operates primarily from Toronto, with additional operations in Texas.
Alongside the Series C round, Uber has committed to invest an extra $250 million in Waabi, linked to future milestones. Under the partnership, Waabi will exclusively deploy at least 25,000 autonomous vehicles on Uber’s ride-hailing platform to support robotaxi services. The company has not yet disclosed which vehicle models will be used.
Waabi founder and CEO Raquel Urtasun said the new capital will help adapt the company’s AI systems to work safely across different locations, vehicle formats, and road conditions. Urtasun previously served as chief scientist at Uber’s Advanced Technologies Group and has spent over 16 years in the self-driving sector.
Waabi first focused on autonomous freight trucking and partnered with automakers such as Volvo and Peterbilt. The company is now shifting toward a “driver-as-a-service” model, offering autonomous systems rather than owning fleets.
Investors say Waabi stands out for its cost-efficient approach and strong focus on safety. The company uses a combination of lidar, radar, and cameras to improve system reliability.
Waabi faces growing competition in both trucking and robotaxi markets from companies including Aurora, Tesla, Waymo, and Rivian.