Waabi's Billion-Dollar AI Brain to Power Uber's Robotaxi Fleet

TORONTO, ON – January 28, 2026 – In a move that sends shockwaves through the autonomous vehicle industry, Toronto-based AI leader Waabi today announced it has secured a staggering $1 billion USD in new funding. The capital infusion, which marks the largest fundraise in Canadian history, is set to supercharge the company's commercialization of autonomous trucking and fuel an ambitious expansion into the robotaxi market through an exclusive, large-scale partnership with ridesharing giant Uber.

The financing consists of an oversubscribed $750 million Series C round co-led by Khosla Ventures and G2 Venture Partners, supplemented by a future milestone-based investment from Uber. This deal not only validates Waabi's unique technology but also provides a clear and powerful path to market, potentially reshaping the timelines for widespread autonomous vehicle adoption.

Founded in 2021 by renowned AI visionary Raquel Urtasun, Waabi has distinguished itself with a novel 'Physical AI' platform. This technology promises to solve the scalability challenges that have long plagued the capital-intensive autonomous driving sector.

“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.”

A Record Haul for Canadian Tech

The sheer scale of the investment underscores immense investor confidence in Waabi's strategy and technological prowess. The Series C round attracted a formidable syndicate of global leaders in AI, transportation, and finance. Beyond the lead investors, participants include strategic heavyweights like Uber, NVentures (NVIDIA’s venture capital arm), Volvo Group Venture Capital, and Porsche Automobil Holding SE.

Financial giants such as funds managed by BlackRock, Radical Ventures, and a subsidiary of the Abu Dhabi Investment Authority (ADIA) also joined the round. The deal represents a watershed moment for the Canadian tech ecosystem, with strong domestic participation from BDC Capital, Export Development Canada (EDC), and TELUS Global Ventures, among others. This funding event surpasses previous record-breaking Canadian raises, solidifying the nation's position as a global hub for AI innovation.

“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.”

The 'Physical AI' Differentiator

At the heart of Waabi's strategy is its revolutionary Physical AI Platform. Unlike first-generation approaches that often require extensive on-road data collection and separate development for different vehicle types, Waabi has engineered a single, unified AI model capable of reasoning. This 'shared brain' can pilot both heavy-duty trucks and passenger cars, a breakthrough that dramatically accelerates development and reduces costs.

The company’s simulation-first methodology is a key pillar of its capital-efficient model. By leveraging what it calls the “world’s most advanced neural simulator,” Waabi can test, train, and validate its Waabi Driver software across a vast array of scenarios and edge cases in a virtual environment. This reduces the need for millions of miles of real-world driving, a major expense and bottleneck for competitors.

This AI-centric system, which utilizes deep learning and probabilistic inference, processes data from a comprehensive sensor suite of lidar, radar, and cameras to build a rich understanding of its environment and make complex driving decisions. The approach is designed to be generalizable, allowing the technology to adapt to new vehicle form factors, geographies, and operating domains with unprecedented speed.

“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.”

Shifting Gears to Taxis with Uber

While continuing to advance its autonomous trucking operations, Waabi is now making a decisive entry into the robotaxi market. The exclusive partnership with Uber provides an unparalleled platform for deployment. As part of the strategic alliance, Uber will not only provide milestone-based capital but also collaborate on the deployment of 25,000 or more robotaxis powered by the Waabi Driver over time.

For Urtasun, the deal represents a full-circle moment. Before founding Waabi, she served as the Chief Scientist at Uber's Advanced Technologies Group (ATG), leading its autonomous vehicle research. This new chapter transforms a past relationship into a massive commercial partnership set to deploy self-driving technology at a scale the industry has yet to see.

“We are thrilled to partner with the best-in-class ridesharing platform to bring about a safer, more efficient, and sustainable future,” Urtasun stated.

The collaboration positions Waabi to compete with established robotaxi operators like Waymo and Cruise, but with a different business model. Waabi will act as the core technology provider, supplying the Waabi Driver software stack, while partners like Uber will likely manage the complexities of fleet operations, maintenance, and the customer-facing experience.

“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.”

With this historic funding and landmark partnership, Waabi is not just accelerating its own roadmap but is also positioning its unified AI approach as the new paradigm for autonomous systems. The successful integration of its technology into both logistics and urban mobility could finally unlock the long-promised economic and societal benefits of a driverless future.