This Waabi company profile covers the company's valuation, revenue, funding rounds, investors and history. Waabi works in artificial intelligence, with a focus on autonomous vehicles. It was founded in 2021 and is headquartered in Toronto, Ontario, Canada. Its latest valuation on record is Unicorn (over US$1 billion), exact figure not disclosed (January 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Uber partnership | Exclusive robotaxi deployment on Uber's platform, with Uber investing up to a further US$250M tied to milestones | January 2026 | electrive |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jan 2026 | Series C | US$750M (plus up to US$250M milestone-based from Uber) | Over US$1B (not disclosed) | Khosla Ventures and G2 Venture Partners (co-leads); NVIDIA's venture arm, Volvo Group Venture Capital, Porsche Automobil Holding SE, BlackRock, Abu Dhabi Investment Authority and others | FreightWaves |
| Jun 2024 | Series B | US$200M (about C$275M), all primary equity | Not disclosed | Uber and Khosla Ventures (co-leads); NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest | BetaKit |
| 2021 | Series A | About C$100M | Not disclosed | Khosla Ventures (lead) | BetaKit |
Waabi timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2021 — Waabi is founded in Toronto by Raquel Urtasun (CEO).
- 2021 — Series A: About C$100M. Investors: Khosla Ventures (lead).
- Jun 2024 — Series B: US$200M (about C$275M), all primary equity. Investors: Uber and Khosla Ventures (co-leads); NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest.
- Jan 2026 — Series C: US$750M (plus up to US$250M milestone-based from Uber), valuing the company at Over US$1B (not disclosed). Investors: Khosla Ventures and G2 Venture Partners (co-leads); NVIDIA's venture arm, Volvo Group Venture Capital, Porsche Automobil Holding SE, BlackRock, Abu Dhabi Investment Authority and others.
- January 2026 — Uber partnership: Exclusive robotaxi deployment on Uber's platform, with Uber investing up to a further US$250M tied to milestones.
Investors
Overview
Waabi develops software that lets trucks, and now cars, drive themselves. Raquel Urtasun founded it in Toronto in 2021. She's a well-known AI researcher and was previously chief scientist and head of Uber's self-driving research lab. Her approach differs from many earlier autonomous vehicle companies: Waabi leans heavily on a highly realistic simulator, so the AI driver learns mostly in a virtual world rather than through millions of miles of real driving. The company argues this is faster and much cheaper.
Waabi started with long-haul trucking, beginning in Texas, and in 2026 added robotaxis through an exclusive partnership with Uber.
Funding history
2021 Series A: about C$100 million, led by Khosla Ventures. That's a very large first round for a brand-new company, reflecting investors' confidence in the founder.
June 2024 Series B: US$200 million, roughly C$275 million, co-led by Uber and Khosla Ventures. It was all equity and all primary capital, meaning new money went into the company. Strategic investors made up much of the list: NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest and Ingka Investments, IKEA's investment arm. The Logic also listed HarbourVest. Waabi said it was aiming for fully driverless trucks on the road the following year.
January 2026 Series C: US$750 million, co-led by Khosla Ventures and G2 Venture Partners, with NVIDIA's venture arm, Volvo, Porsche, BlackRock and the Abu Dhabi Investment Authority among the participants. Alongside it, Uber agreed to invest up to another US$250 million in stages tied to milestones, as part of a deal to deploy Waabi-powered robotaxis exclusively on Uber's platform. Reports describe it as one of the largest rounds ever raised by a private Canadian tech company, and it made Waabi a unicorn. The exact valuation wasn't disclosed.
Revenue: what's public
Waabi hasn't disclosed revenue. Autonomous driving companies usually earn little at this stage compared with what they spend. Value depends on reaching full commercial deployment, so investors judge them on technical milestones, safety results and commercial partnerships rather than current sales. Our guide to valuing pre-revenue companies explains how investors think about businesses like this.
Why the investor list matters
Look at who's backing Waabi. Truck makers (Volvo, Scania), a carmaker's holding company (Porsche), a chip company (NVIDIA), a ride-hailing platform (Uber) and a logistics-heavy retailer's investment arm (Ingka) each bring something besides money: vehicles, hardware, distribution or freight volume. In capital-intensive deep tech, strategic investors like these can matter as much as the cash.
How Waabi's simulator-first approach differs
Most autonomous vehicle companies have relied heavily on driving huge numbers of real-world miles to collect data and test their systems, supplemented by simulation. Waabi's approach puts simulation at the centre. Its platform creates highly realistic virtual worlds where its AI driver can encounter rare and dangerous situations, such as a pedestrian stepping out from behind a truck in heavy rain, thousands of times without risk. The company argues this lets it train and validate its system faster and at much lower cost, with real-world driving used to confirm results rather than to discover every edge case. Whether simulation can substitute for real miles to the degree Waabi believes is one of the big technical questions its commercial deployments will answer.
Trucks first, then robotaxis
Waabi started with long-haul trucking because highways are more predictable than city streets, the economics are compelling (driver shortages and long hours make autonomy valuable), and routes between logistics hubs can be rolled out gradually. Its 2026 partnership with Uber to deploy robotaxis signals confidence that the same technology can extend to more complex urban environments. That's a significant expansion of its addressable market, and also of its technical challenge.
Competitive landscape
Autonomous driving is one of the most capital-intensive races in technology. Waabi competes with well-funded US autonomous trucking companies, robotaxi operators backed by large technology companies, and car and truck manufacturers developing their own systems. Its advantages are its simulation technology, a founder with deep credibility in the field, and strategic partners spanning trucking, cars, chips and ride-hailing. The risks are execution, safety, regulation and the sheer cost of reaching scale.
What to watch next
Watch for fully driverless commercial operations in trucking, the first robotaxi deployments with Uber, regulatory approvals in the regions where it operates, and safety data. These milestones will determine whether the Series C valuation holds and how quickly Waabi can generate meaningful revenue.
Key facts at a glance
Waabi is a Toronto autonomous driving company founded in 2021 by Raquel Urtasun, formerly chief scientist of Uber's self-driving unit. It raised about C$100 million in a 2021 Series A led by Khosla Ventures, a US$200 million Series B co-led by Uber and Khosla in June 2024, and a US$750 million Series C co-led by Khosla Ventures and G2 Venture Partners in January 2026, alongside up to US$250 million more from Uber tied to a robotaxi partnership.
What this means if you're…
Selling to Waabi: a well-funded deep tech company scaling towards commercial launch buys compute, simulation and data infrastructure, safety and regulatory expertise, and specialised recruiting.
A Canadian deep tech founder: Waabi shows that very large rounds are possible for Canadian companies when a strong founder reputation is combined with strategic partners.
In logistics: watch where Waabi's trucks start operating commercially, because early routes often shape the partnerships that follow.
Latest developments (October 2026)
Waabi raised about US$1 billion in January 2026: a US$750 million Series C co-led by Khosla Ventures and G2 Venture Partners plus about US$250 million of milestone-based capital from Uber, according to TechCrunch. The Uber money is tied to deploying 25,000 or more robotaxis running Waabi's software exclusively on Uber's network. Waabi still targets commercial driverless trucking in 2027 and has not disclosed a robotaxi timeline. See our autonomous vehicle guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Waabi do?
Waabi is a artificial intelligence / autonomous vehicles company headquartered in Toronto, Ontario, Canada. It was founded in 2021.
What is Waabi's valuation?
Waabi was valued at Unicorn (over US$1 billion), exact figure not disclosed as of January 2026, according to FreightWaves. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Waabi make?
Waabi is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Waabi's latest funding round?
The most recent financing we have verified is a series c in Jan 2026: US$750M (plus up to US$250M milestone-based from Uber), at a valuation of Over US$1B (not disclosed). Source: FreightWaves.
Who are Waabi's investors?
Investors named in public announcements include Khosla Ventures, G2 Venture Partners, Uber, NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest, BlackRock and Abu Dhabi Investment Authority.
Who founded Waabi?
Waabi was founded in 2021 by Raquel Urtasun (CEO).
Is Waabi a public company?
No. Waabi is a private company (private, venture and strategic investor backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Waabi headquartered?
Waabi is headquartered in Toronto, Ontario, Canada. See our guide to raising money in Canada for context on the Toronto startup ecosystem.