Professor Raquel Urtasun, founder and CEO of Waabi. (Photo by Nick Iwanyshyn)
Waabi, a self-driving trucking startup founded by University of Toronto artificial intelligence (AI) expert Raquel Urtasun, has raised US$200 million in series B funding to support the deployment of fully autonomous, AI-powered trucks in 2025.
The funding round was led by previous investors Uber Technologies Inc. — where Urtasun previously worked as chief scientist of the self-driving division — and Khosla Ventures and includes an array of other high-profile strategic investors including NVIDIA Corp., Volvo Group and Porsche Automobil Holding.
The latest funding brings total investment in Waabi to more than C$380 million and will be used to expand the Toronto-headquartered company’s team in both Canada and the U.S., as well as to launch driverless commercial deliveries in Texas by next year.
A Waabi truck on the St. George campus. (Photo by Nick Iwanyshyn)
Urtasun, a professor in the department of computer science at U of T’s Faculty of Arts & Science and co-founder of the Vector Institute for Artificial Intelligence, said Waabi’s end-to-end AI system is advancing self-driving technologies to frontiers beyond the reach of other industry players thanks to its unique ability to carry out complex reasoning.
“What we have at Waabi is a technology that brings generative AI to the physical world for the first time, where the idea is that you have a single AI system that is able to reason like a human does, and is able to generalize to situations everything that might happen on the road — including things that it has never seen before,” she said.
“It does so in a way that is interpretable, so you can validate and verify the system, and provably safe, which is very important as you deploy these massive robots in the real world.”
Paired with Waabi’s advanced simulator, the AI system reduces the need for time-consuming road testing, Urtasun explained.
Read more at U of T News: