Waabi Secures $750M Series C for Self-Driving Trucks
Canadian self-driving truck startup Waabi raised $750 million in Series C funding, marking the largest tech fundraise in Canadian history and pioneering Physical AI for autonomous trucking.
Waabi, the Toronto-based autonomous vehicle startup founded by former Uber ATG lead Raquel Urtasun, closed a $750 million Series C funding round in January 2026, marking the largest technology fundraise in Canadian history. Co-led by Khosla Ventures and G2 Venture Partners, with participation from Nvidia's NVentures, Volvo Group Venture Capital, and Porsche Automobil Holding SE, the round will accelerate commercialization of Waabi's self-driving truck technology and fund expansion into the robotaxi market.
Physical AI Approach
Waabi distinguishes itself through what it calls "Physical AI"—a platform combining an end-to-end AI model capable of reasoning about real-world scenarios with an advanced neural simulator for training and validation. This approach allows the company to adapt its autonomous driving systems to new locations, weather conditions, and vehicle form factors more rapidly than competitors relying primarily on real-world test miles. The technology promises to accelerate deployment timelines while maintaining rigorous safety standards required for commercial autonomous operations.
Uber Partnership and Total Funding
Alongside the Series C, Uber committed an additional $250 million to exclusively deploy Waabi's autonomous systems on its ride-hailing platform, bringing total available funding to $1 billion. The partnership includes plans to deploy at least 25,000 autonomous vehicles through Uber's network, representing a major vote of confidence in Waabi's technology and a significant competitive advantage in the crowded autonomous vehicle market.
Market Position
The funding positions Waabi among the best-capitalized players in autonomous trucking, competing with established names like Aurora, TuSimple, and Kodiak Robotics. With autonomous trucking projected to become a multi-billion dollar market by the end of the decade, Waabi's dual focus on freight and passenger mobility provides multiple paths to commercialization and revenue generation.
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