Waabi secures $1 billion for its robotaxi tech
Press Release, 30 January 2026
Toronto‑based autonomous vehicle startup Waabi has made a major splash in the self‑driving world by raising US $1 billion in new funding to accelerate the commercialization of its technology and expand into robotaxi deployment. The financing package the largest venture capital raise in Canadian history includes a US $750 million Series C round co‑led by Khosla Ventures and G2 Venture Partners, with participation from strategic backers such as Nvidia’s NVentures, Volvo Group Venture Capital, Porsche Automobil Holding SE, BlackRock, and others. In addition, ride‑hailing giant Uber has committed US $250 million in milestone‑based future investment tied to the rollout of autonomous taxi services on its platform.
Founded in 2021 by AI expert Raquel Urtasun a former head of Uber’s self‑driving lab and a University of Toronto professor Waabi built its reputation on a unified Physical AI platform that enables a single autonomous system to power multiple vehicle types and driving environments. Initially focused on autonomous trucking, Waabi plans to use the new capital to continue advancing its freight autonomy solutions while rapidly scaling into the robotaxi market. As part of its partnership with Uber, the company aims to deploy 25,000 or more Waabi‑powered robotaxis exclusively on Uber’s ride‑hailing network over time, although specific timelines and geographic deployment plans have not yet been announced.
Waabi’s strategy reflects a growing industry trend toward scalable, AI‑centric autonomous systems that can adapt across different mobility sectors from long‑haul freight to passenger transport. The startup’s approach marks an effort to leapfrog traditional segmented self‑driving stacks by applying a shared AI “brain” across trucks and robotaxis, simplifying development and enhancing operational efficiency. With deep backing from major AI, automotive, and investment players and a strategic alliance with Uber, Waabi is positioning itself as a formidable contender in the next chapter of autonomous mobility.
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