Waabi Raises $1B in Series C Round Led by Khosla Ventures and G2 Venture Partners, with Uber Investing

Why It Matters

The partnership could accelerate large‑scale robotaxi deployment, reshaping urban mobility and signaling a pivot away from stalled autonomous‑truck projects. It also positions Waabi as a key technology supplier in a market dominated by a few well‑funded players.

Key Takeaways

• Waabi secured $1 billion funding, $750 M Series C.
• Partnership targets minimum 25,000 robotaxis on Uber.
• Founder Raquel Urtasun pivots from trucks to rideshare.
• Waabi leverages “physical AI” across trucking and taxis.
• Industry shift follows setbacks of other driverless‑truck firms.

Pulse Analysis

Waabi’s latest $1 billion financing round marks a decisive inflection point for the Toronto‑based startup. Led by Khosla Ventures and G2 Venture Partners, the capital injection not only validates the company’s “physical AI” architecture but also fuels an ambitious pivot from long‑haul trucking to urban mobility. Founder Raquel Urtasun, a former Uber ATG chief scientist, argues that the perception‑action loops honed on freight corridors translate directly to passenger pick‑ups and drop‑offs. By securing dedicated Uber capital, Waabi positions itself as a technology supplier poised to scale its autonomous stack across a new vehicle class.

The Uber agreement commits Waabi to a floor of 25,000 robotaxis, a figure that dwarfs most pilot programs launched to date. If realized, the fleet would provide Uber with a ready‑made, AI‑driven backbone for its global ride‑hailing network, potentially lowering unit costs and accelerating market penetration in dense urban centers. However, scaling from a validated trucking platform to city streets introduces fresh regulatory hurdles, passenger safety considerations, and liability exposure. Competitors such as Waymo and Cruise have already demonstrated limited commercial rollouts, underscoring the steep operational learning curve Waabi must navigate.

Beyond the immediate partnership, Waabi’s move signals a broader recalibration within the autonomous‑vehicle ecosystem. Recent bankruptcies of Embark, TuSimple and Locomation illustrate that the long‑promised truck‑first roadmap is faltering, prompting capital to chase the more visible robotaxi narrative. By aligning with Uber, Waabi taps into an established distribution channel while retaining focus on software excellence, a strategy that could attract further institutional funding. Success would not only validate the “physical AI” thesis but also reshape the competitive hierarchy, forcing traditional automakers and pure‑play AV firms to reassess their product roadmaps.

Deal Summary

Toronto‑based autonomous trucking startup Waabi announced a $1 billion Series C funding round, raising $750 million led by Khosla Ventures and G2 Venture Partners, with additional capital from Uber for robotaxi development. The round will support Waabi’s pivot from self‑driving trucks to robotaxis, targeting deployment of at least 25,000 robotaxis on Uber’s platform.