Waabi secures $1 billion to advance Physical AI Platform

Waabi has announced it has closed its oversubscribed USD 750 million Series C round co-led by Khosla Ventures and G2 Venture Partners, and secured an additional milestone-based future investment from Uber to support a new partnership to deploy robotaxis powered by the Waabi Driver exclusively on the Uber platform. 

The funding will fuel the continued advancement of Waabi’s Physical AI Platform, further accelerate the company’s commercial progress in autonomous trucking, and support Waabi’s expansion into robotaxis, the Canadian company said. 

The company’s Physical AI Platform enables true scale, generalizing to different form factors, geographies, and environments. Waabi’s Platform combines a verifiable end-to-end AI model capable of reasoning alongside the world’s most advanced neural simulator. 

This approach enables a shared brain across both autonomous trucks and robotaxis, in which the same AI model powers both applications. Waabi’s breakthrough unlocks a rapid and seamless expansion into robotaxis, while ensuring that progress in both autonomous trucks and robotaxis ultimately improves the Waabi Driver’s overall capabilities, the company said.

“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.”

In addition to the lead investors, Khosla Ventures and G2 Venture Partners, Waabi’s Series C includes participation from strategic investors, such as Uber, NVentures (NVIDIA’s venture capital arm), Volvo Group Venture Capital, and Porsche Automobil Holding SE, as well as financial investors: funds and accounts managed by BlackRock, Radical Ventures, HarbourVest Partners, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), Linse Capital, Incharge Capital, and others. 

The company’s Series C raise also includes the participation of Canadian investors BDC Capital’s Thrive Venture Fund, Export Development Canada (EDC), TELUS Global Ventures, BMO Global Asset Management, and others.

“Waabi has developed a truly groundbreaking Physical AI platform that represents a fundamental leap forward in how next generation driverless technology is being developed,” said Vinod Khosla, founder of Khosla Ventures. “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.”

“Waabi is fundamentally changing the trajectory of autonomous transportation. Their simulation-first end-to-end AI is a powerful enabler, accelerating commercial adoption while dramatically reducing capital needs to scale,” said Brook Porter, Partner and Co-Founder at G2 Venture Partners. “Waabi is unlocking the potential for autonomy to drive vehicle efficiency and utilization, catalyzing the shift to a more sustainable transportation system.”

“With a trillion miles driven globally each year, self-driving is one of the largest and most important AI opportunities of our time,” said Jensen Huang, founder and CEO of NVIDIA. “Waabi represents a true breakthrough by treating autonomy as a scalable intelligence problem. Built on NVIDIA compute, Waabi is unlocking real deployment—and we’re proud to support them as one of the future giants of AI.”

“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.”