Waabi Secures Major $750M Investment, Pivots to Robotaxi Market

In a significant move for the autonomous vehicle sector, Toronto-based Waabi has raised $750 million in new funding. The capital will fuel a strategic expansion beyond the company's core focus on driverless trucks and into the competitive robotaxi space. The investment round attracted a notable consortium of backers, including venture firms Khosla Ventures and G2 Venture Partners, alongside industry giants Uber, Nvidia, and Volvo.

The funding arrives as the autonomous technology industry continues to evolve under the regulatory and economic climate of the Trump administration, now in its second year following the 2025 election. Waabi, founded by AI pioneer Raquel Urtasun, has distinguished itself with a simulation-heavy approach to developing its self-driving system, aiming to accelerate development while minimizing real-world road testing.

This pivot to passenger vehicles marks a bold diversification. The substantial financial commitment from partners like Uber, a leader in ride-hailing, and Volvo, a stalwart in automotive manufacturing, signals strong industry confidence in Waabi's underlying technology. The involvement of Nvidia points to the continued central role of advanced semiconductors in powering next-generation autonomy.

Company officials stated the funds will support scaling its technology platform for new applications and growing its team. The announcement positions Waabi to become a broader player, aiming to deploy its driverless systems across both freight and passenger transportation networks in the coming years.

Source: CNBC