Waabi, the leader in Physical AI, announced the successful closing of its oversubscribed $750 million USD Series C round of funding, led by Khosla Ventures and G2 Venture Partners. The company also received a milestone-based future investment from Uber as part of a new strategic partnership to offer robotaxis using the Waabi Driver exclusively on the Uber platform. This funding round is the biggest in Canadian history. It will speed up the growth of Waabi’s Physical AI Platform. It will also boost the success of its autonomous trucking business and help the company enter the robotaxi market.
Waabi, founded in 2021, has grown from a startup to a category-defining leader in Physical AI in record time. Its proprietary Physical AI Platform is designed for scale, allowing for generalization across vehicle types, geographies, and environments. The platform uniquely integrates a verifiable, end-to-end AI model that can reason about the world with the world’s most advanced neural simulator. This enables, for the first time in the autonomous vehicle industry, a shared intelligence model that powers both autonomous trucks and robotaxis. This means that innovation in one area directly improves the other, allowing for faster development cycles and seamless transition into new mobility applications.
“Waabi’s Physical AI Platform has enabled us to hit an industry-leading pace in the development and commercialization of autonomous trucks over the past few years,” said Raquel Urtasun, founder and CEO of Waabi. “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.”
Waabi’s Series C Funding
Waabi’s $750 million USD Series C round brings together a diverse group of global leaders across AI, transportation, and investment. The round features lead investors Khosla Ventures and G2 Venture Partners. It also includes participation from Uber, NVentures (NVIDIA’s venture arm), Volvo Group Venture Capital, and Porsche Automobil Holding SE.
Financial investors include funds and accounts from:
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BlackRock
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Radical Ventures
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HarbourVest Partners (a subsidiary of ADIA)
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Linse Capital
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Incharge Capital
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Others
The round shows strong backing from Canada’s investment scene. It includes BDC Capital’s Thrive Venture Fund, Export Development Canada (EDC), TELUS Global Ventures, BMO Global Asset Management, and other partners.
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“We invest in the companies that are leading the AI era,” said Vinod Khosla, founder of Khosla Ventures. “Waabi has developed a truly groundbreaking Physical AI platform that represents a fundamental leap forward in how next generation driverless technology is being developed. Their remarkable progress in autonomous trucking and rapid expansion into robotaxis demonstrates how their technology unlocks for the first time true scale in the real world. This breakthrough will define AI for decades to come.”
“Waabi is fundamentally changing the trajectory of autonomous transportation,” said Brook Porter, Partner and Co-Founder at G2 Venture Partners. “Their simulation-first end-to-end AI is a powerful enabler, accelerating commercial adoption while dramatically reducing capital needs to scale. Waabi is unlocking the potential for autonomy to drive vehicle efficiency and utilization, catalyzing the shift to a more sustainable transportation system.”
The Waabi–Uber Partnership
Building on the maturity and commercial readiness of its autonomous trucking technology, Waabi is now introducing robotaxis as the second major application of its Physical AI Platform.
“We are thrilled to partner with the best-in-class ridesharing platform to bring about a safer, more efficient, and sustainable future,” said Urtasun.
As a part of this expansion, Waabi will exclusively partner with Uber to deploy robotaxis using the Waabi Driver on the Uber platform. This partnership will also include additional milestone-based investment from Uber to support the development of robotaxis and the long-term deployment of 25,000 or more robotaxis using the Waabi Driver. This partnership will help to accelerate the adoption of robotaxis on a large scale.
“Waabi’s expanded focus on robotaxis marks an important milestone for their team and the AV industry more broadly,” said Dara Khosrowshahi, CEO of Uber. “We’re very excited to deepen our partnership with Waabi as they significantly scale their Physical AI Platform and enter a new phase of an already remarkable journey.”