Waabi, a startup specializing in autonomous vehicles, has secured a substantial $1 billion in funding and formed a strategic partnership with Uber to introduce self-driving cars to the ride-hailing platform. This marks Waabi’s initial foray into the realm of self-driving cars, expanding beyond its previous focus on autonomous trucking.
The funding round comprises a $750 million Series C investment, oversubscribed and co-led by Khosla Ventures and G2 Venture Partners, along with approximately $250 million in milestone-based funding from Uber. This financial support will facilitate the deployment of 25,000 or more Waabi Driver-powered robotaxis exclusively on Uber’s platform, although a specific timeline for this large-scale deployment has not been disclosed.
This collaboration signifies a bold move, placing faith in Waabi’s AI technology to thrive where others have encountered challenges. The startup aims to scale across various self-driving sectors using a unified technology platform. Unlike competitors such as Waymo, which struggled with both robotaxis and trucking endeavors before discontinuing its freight program, Waabi’s founder and CEO, Raquel Urtasun, believes that the company’s cost-effective approach and adaptable AI architecture provide a distinctive advantage in simultaneously addressing multiple markets.
Urtasun emphasized, “Our advanced core technology enables a unified solution capable of operating across different verticals at scale for the first time. It’s not about managing two separate programs or technology stacks.”
This partnership represents a significant milestone for Urtasun, who previously held the position of chief scientist at Uber’s autonomous vehicle division, Uber ATG, before Uber’s sale of the division to Aurora Innovation in 2020. Additionally, the collaboration builds upon Waabi’s existing partnership with Uber Freight.
Among the various autonomous vehicle companies enlisted by Uber to deploy self-driving vehicles globally on its platform are Waymo, Nuro, Avride, Wayve, WeRide, and Momenta.
As part of the collaboration, Uber has introduced a new division called Uber AV Labs, tasked with utilizing its vehicles to gather data for autonomous vehicle partners.
