Professor Raquel Urtasun, founder and CEO of Waabi, in an autonomous truck at the University of Toronto in June 2024. (Photo: Nick Iwanyshyn)
Waabi, the autonomous vehicle startup founded and led by University of Toronto computer science professor Raquel Urtasun, has raised US$750 million in its latest funding round and announced plans to launch a large fleet of robotaxis with Uber Technologies Inc., The Globe and Mail reports.
The venture capital financing is one of the largest in Canadian history, according to the Globe.
Urtasun, a star in the field of artificial intelligence, previously led research at Uber's Autonomous Technologies Group before founding Waabi in 2021.
In expanding into robotaxis, Waabi looks to use its unique technology that up until now, has primarily been focused on autonomous long-haul trucking. The company trains its AI models in virtual simulators, rather than on real-world roads, allowing for the technology to be more adept once deployed in the physical world.
“The same brain is going to drive the different form factors. It’s going to drive the trucks and the robotaxis,” Urtasun told the Globe. “We build all the capabilities you require for robotaxis already.”