Waabi Raises $280 Million in Funding Led by AI and Logistics Giants
Toronto, Canada - Waabi, the AI-driven autonomous driving startup founded by Raquel Urtasun, has secured $280 million in funding across two rounds. The company's strategy has been bolstered by a strong cap table, with key support from Uber's Dara Khosrowshahi and Nvidia's Jensen Huang.
AI-First Approach to Self-Driving
Urtasun, a 25-year AI veteran, founded Waabi in 2021 after nearly four years at Uber, where she led the self-driving unit. Dissatisfied with the industry's capital-intensive approach, she envisioned an AI-first solution. Waabi's mission is to develop self-driving trucks, leveraging its proprietary AI technology.
Over $280 Million in Funding and Strategic Investors
Waabi has raised over $280 million to date, with investment from renowned investors such as Nvidia and Uber. The company's Series A round was led by Khosla Ventures, while its Series B round included participation from Ingka Investments (IKEA's investment arm), Volvo Group Venture Capital, Scania Invest, and Porsche Automobil Holding SE.
Strategic Cap Table for Next-Stage Growth
Waabi's strategic cap table reflects its focus on AI and logistics. Nvidia, a leading provider of AI compute, not only invested but also partners with Waabi to build the generative AI platform powering its trucks. Ingka Investments brings expertise in the logistics industry through its ties to IKEA, while OEMs like Volvo and Porsche provide valuable insights for self-driving vehicle development.
Supporters and Mentors
Urtasun highlights the importance of having a diverse and experienced team of supporters. Key mentors include Dara Khosrowshahi and Jensen Huang, who have provided guidance and support throughout her entrepreneurial journey.
"I'm not building Waabi for an exit but to transform the world," said Urtasun. "Having the best people in the industry supporting us has been a huge help in the endeavor."