TORONTO — Self-driving truck developer Waabi Innovation Inc. says it has secured US$200 million in funding from investors including Nvidia, Volvo Group and Porsche Automobil Holding SE.
Waabi founder and chief executive Raquel Urtasun says with the funding in place, the company now has everything it needs to launch self-driving freight trucks in Texas in 2025.
The funding round, which also saw participation from several Canadian investors including Radical Ventures, Export Development Canada and BDC Capital’s Thrive Venture Fund, adds to the US$80 million Waabi has already raised. The funding announcement included statements of praise from big names in tech, including Nvidia chief executive Jensen Huang, AI pioneer Geoffrey Hinton, and Uber chief executive Dara Khosrowshahi who said he was excited by the scalability and capital efficiency of what Waabi is developing.
Waabi struck a partnership with Uber Freight last year that has seen the two conducting test runs with a safety driver, while in March, it announced it would use Nvidia's AI platform in its self-driving systems. The Toronto-based company says the funding will be used to grow its commercial operations and expand its team in both Canada and the U.S.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Daily Chase: Toronto-based autonomous truck startup Waabi raises US$200MHere are five things you need to know this morning.
Read more »
Politicians were in self-congratulatory mode as they basked in Toronto’s WNBA expansion newsWho was there to welcome the WNBA to town? Better question – who wasn’t?
Read more »
Toronto weather: Air quality statement issued for Toronto amid heat, humidityGloomy skies, thunderstorms and rain in Toronto have now been replaced by hot and sticky conditions this morning as a prolonged stretch of heat and humidity takes hold in Ontario.
Read more »
Waabi raises US$200 million to deploy driverless trucks by 2025Autonomous driving startup Waabi Innovation Inc. has raised US$200 million from investors including Uber Technologies Inc., Nvidia Corp. and Volvo AB’s venture wing to support its deployment of driverless trucks as soon as 2025.
Read more »
Waabi Raises $200 Million to Deploy Driverless Trucks by 2025Autonomous driving startup Waabi Innovation Inc. has raised $200 million from investors including Uber Technologies Inc., Nvidia Corp. and Volvo AB’s venture wing to support its deployment of driverless trucks as soon as 2025.
Read more »
Waabi raises $200-million to launch driverless commercial trucks in TexasThe goal of deploying fully autonomous trucks – with no driver at the wheel – in 2025 represents a huge test for Waabi and its chief executive Raquel Urtasun
Read more »