Waabi

Waabi

Develops self-driving technology for trucking

About Waabi

Simplify's Rating
Why Waabi is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Automotive & Transportation

AI & Machine Learning

Company Size

51-200

Company Stage

Series B

Total Funding

$265.9M

Headquarters

Toronto, Canada

Founded

2021

Overview

Waabi focuses on developing self-driving technology specifically for the trucking industry. Their main product, the Waabi Driver, is designed to learn from experiences, adapt to new situations, and work with various hardware setups. This technology aims for large-scale use and is intended for integration into vehicles by original equipment manufacturers (OEMs). Waabi stands out from competitors by utilizing an advanced simulation platform called Waabi World, which allows them to test and refine their self-driving systems in a virtual environment, minimizing the need for extensive real-world testing. This not only cuts costs but also improves safety and adaptability. The goal of Waabi is to transform the trucking industry by making it safer and more cost-effective through their autonomous driving solutions.

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Funded Recently
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Simplify's Take

What believers are saying

  • Partnership with Volvo enhances Waabi's market position in autonomous trucking.
  • $200 million funding round shows strong investor confidence in Waabi's technology.
  • Opening of AV trucking terminal in Texas offers strategic growth opportunities.

What critics are saying

  • Increased competition from Tesla and Aurora may limit Waabi's market share.
  • Reliance on Nvidia hardware poses risks if supply chain issues arise.
  • High capital requirements for scaling could strain Waabi's financial resources.

What makes Waabi unique

  • Waabi uses advanced simulation technology, Waabi World, to reduce real-world testing needs.
  • The Waabi Driver adapts to new scenarios and geographies, enhancing flexibility.
  • Waabi's AI-first approach allows efficient reasoning, reducing data and computation needs.

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Funding

Total Funding

$265.9M

Above

Industry Average

Funded Over

2 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$65M
Substack
$100M
ClickUp
$200M
Waabi

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

Flexible Work Hours

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

↑ 4%

1 year growth

↑ 0%

2 year growth

↑ 5%
FreightWaves
Feb 4th, 2025
Waabi And Volvo Autonomous Solutions Announce Partnership

Toronto-based autonomous truck technology maker Waabi announced a strategic partnership on Tuesday with Volvo Autonomous Solutions to jointly develop and deploy autonomous trucks. The partnership is twofold, combining Waabi’s innovations in generative AI with Volvo’s autonomous truck, the Volvo VNL Autonomous.The vertical integration comes in the form of integrating Waabi’s virtual driver system, the Waabi Driver, into the Volvo autonomous truck, which has redundant systems for safe autonomous operations. FreightWaves spoke with Raquel Urtasun, founder and CEO of Waabi, about the partnership. The first thing to note is this is not a retrofit, but a vertical integration: These trucks will come off the factory line fully equipped and ready.“We don’t believe that retrofit is an option for that redundant platform; we believe that our technology, and any AV player for that matter, should be vertically integrated into a redundant platform that is purposefully built for self-driving,” said Urtasun. While Volvo handles the tractor, Waabi has been cooking up its Waabi Driver, part of the next generation of autonomous vehicle progression called AV 2.0. AV 2.0 and autonomous trucking’s Kitty Hawk momentThe best way to understand AV 2.0 and what that means for autonomous trucking is to first understand what AV 1.0 did.“If you look at the industry, there was a generation of technology, what we call AV 1.0, which is a more traditional approach that is some engineered systems where there is AI on them but AI plays a very secondary role,” said Urtasun.She adds that one way to imagine AV 1.0 is smaller AI models all over the place, but there’s a system managed by humans requiring large teams to develop, necessitating many miles to see the next set of edge cases that the system can’t handle. More miles, that is followed by building a bigger dataset, but it’s very capital-intensive and time-consuming, resembling a tedious iteration. The past two years brought about the next evolution, AV 2.0: “this idea of you can have a single AI system that can do all the tests necessary for driving,” adds Urtasun. A parallel that she notes is to imagine having a large language model (LLM) that can engineer a system, versus having to manually program it in the past.With great power comes great computing responsibility. One reason Nvidia has recently been in trucking news is that its computer hardware is powering the AV 2.0 renaissance

BetaKit
Feb 4th, 2025
Waabi Inks Partnership With Investor Volvo To Develop And Deploy Self-Driving Trucks

CEO says deal gives Waabi next puzzle piece it needs for autonomous trucking at scale

The Robot Report
Jul 29th, 2024
Autonomous Vehicles Fuel $2.7B Funding Boom In June 2024

Autonomous vehicles fuel $2.7B funding boom in June 2024. By Dan Kara | July 29, 2024Listen to this article. Forty-eight companies that make robots or relevant enabling technologies raised a total of $2.7 billion in June 2024. At press time, this was the highest monthly funding total of 2024. It exceeded May’s total by more than $500 million and was more than double the 12-month trailing investments average of $1.3 billion. Robotics investments for the first six months of 2024 totaled about $8.4 billion

NVIDIA
Jul 8th, 2024
In It for the Long Haul: Waabi Pioneers Generative AI to Unleash Fully Driverless Autonomous Trucking

Waabi is developing on NVIDIA DRIVE OS, the company's operating system for safe, AI-defined autonomous vehicles.

Startup Italia
Jun 18th, 2024
In Attesa Dei Robotaxi Di Tesla, La Startup Waabi Annuncia L’Arrivo Dei Camion A Guida Autonoma

Uno scenario ancora ricco di incognite. L'azienda canadese, fondata da una ex dipendente di Uber, partirà dal Texas con i primi veicoli smartWaabi, startup canadese, ha annunciato che dal 2025 introdurrà i suoi camion senza pilota sulle strade del Texas, Stato USA da tempo candidatosi ad accogliere le tech company che decidono di lasciare la California. Il panorama delle startup e scaleup impegnate sulla guida autonoma è vivace, nonostante qualche brusca frenata al business (si veda il caso di Cruise nel 2023). Uno degli ambiti in cui le self driving car stanno mostrando potenzialità non riguarda il trasporto di persone, bensì di merci. Camion a guida autonoma: le aziende impegnate. Non è la prima volta che su StartupItalia scriviamo di self driving truck: Aurora e Volvo sono al lavoro da tempo per mettere su strada questa tecnologia e Walmart testa furgoni smart per rifornire i propri supermercati

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