Waabi, an autonomous vehicle startup, has recently made headlines by securing $1 billion in funding and teaming up with Uber. This partnership marks Waabi’s shift into the robotaxi market, expanding beyond its focus on autonomous trucking.
Of the $1 billion, $750 million comes from a Series C funding round led by Khosla Ventures and G2 Venture Partners. The remaining $250 million will be milestone-based capital from Uber to help roll out over 25,000 self-driving taxis specifically for its platform. However, details on when this large-scale deployment will happen are still under wraps.
Raquel Urtasun, Waabi’s founder and CEO, believes their unique technology gives them an edge in multiple self-driving areas. Unlike competitors such as Waymo, which faced challenges in scaling, Waabi’s AI aims for efficiency. Urtasun explains, “We’re able to do multiple things at scale with one solution.”
Interestingly, this collaboration brings Urtasun’s career full circle. She previously worked at Uber’s self-driving division, Uber ATG, before it was sold to Aurora Innovation in 2020. This partnership builds upon Waabi’s earlier relationship with Uber Freight.
Waabi is not alone in this autonomous vehicle race. Other players like Waymo and Nuro also work with Uber to introduce self-driving technology globally. Recently, Uber has launched a new division called Uber AV Labs, aiming to gather data from various vehicle partners.
What sets Waabi apart? Urtasun claims that their system, called Waabi Driver, operates with less reliance on vast amounts of data. Instead, it learns through a closed-loop simulator named Waabi World, which creates a digital replica of the real world. This setup allows the system to adapt and improve over time without human input. “Waabi Driver can understand its environment and make decisions like a human,” Urtasun adds.
Over the past four years, Waabi has successfully developed this technology for both highways and city streets with trucks, while still preparing for passenger vehicles. Interestingly, they have been simulating passenger car data alongside their truck development from the start, indicating a long-term vision for robotaxis.
Urtasun emphasizes that their approach has been both faster and cost-effective. “We don’t need tons of people or huge fleets to get this technology off the ground,” she states. This strategy has allowed Waabi to raise a total of about $1.28 billion, with their Series B funding reaching $200 million in June 2024.
Waabi has already launched commercial pilot tests in Texas, although a fully driverless truck was initially expected last year but has been postponed. They are collaborating with Volvo to create tailored autonomous trucks, which were introduced at the TechCrunch Disrupt event last October. While Urtasun remains optimistic about demand for their trucks, she acknowledges the need for further validation before launch.
Urtasun believes they are only scratching the surface of the robotaxi market. “We’re still in the early stages of robotaxi deployment,” she points out. She hints that Waabi will likely integrate its technology directly into vehicles during production, rather than retrofitting existing models, which she believes creates a safer and more scalable solution.
The investors backing Waabi include significant names like Uber, Nvidia’s NVentures, and Porsche, highlighting the company’s strong market position and confidence from established players in the industry.
As the self-driving vehicle landscape evolves, Waabi’s innovative approach and strategic partnerships position it well for future success.
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Uber,Exclusive,autonomous vehicles,self-driving trucks,Waabi,robotaxis
