Waabi Enters the Robotaxi Market with $1 Billion Through Uber Partnership
Autonomous vehicle company Waabi has raised $1 billion in funding and signed a partnership agreement with Uber to create a robotaxi fleet. The company is expanding into the robotaxi market for the first time, following its work in autonomous trucking.
Major Move in the Autonomous Vehicle Sector
Waabi, a developer of AI-based autonomous vehicle technology, has taken a significant step in the sector by completing a new funding round valued at $1 billion. $750 million of this funding comes from a Series C investment round led by Khosla Ventures and G2 Venture Partners, while approximately $250 million was provided by Uber. Uber's investment aims to support the exclusive deployment of at least 25,000 robotaxis powered by Waabi's 'Waabi Driver' technology on the Uber platform.
Two Markets with a Single Technological Infrastructure
Waabi's Founder and CEO, Raquel Urtasun, states that this partnership embodies the company's claim of being able to scale simultaneously in both the autonomous trucking and robotaxi markets with a single AI architecture. Urtasun emphasized that, unlike its competitors, two separate programs or infrastructures are not needed, as Waabi's core technology provides this flexibility. This move stands out as a development consistent with the previous news of Waabi raising funds to enter the robotaxi market.
A Simulation-Focused Approach
At the heart of Waabi's competitive strategy is a closed-loop simulation environment called 'Waabi World'. This system creates digital twins of the real world, allowing the Waabi Driver to learn from its mistakes without human intervention and be tested in various scenarios. The company claims that this enables it to generalize with less data compared to traditional autonomous driving systems and use resources more efficiently.
The Completed Loop with Uber and Future Plans
The partnership holds a special meaning for Raquel Urtasun. Urtasun previously served as the chief scientist at Uber's autonomous vehicle unit, Uber ATG. The company also expands its existing collaboration with Uber Freight. Waabi has joined the ranks of companies like Waymo and Nuro that have agreements to deploy autonomous vehicles on Uber's global platform.
While Waabi continues to work with Volvo on autonomous truck projects, it did not provide details on which automobile manufacturer it will work with for its robotaxi fleet. However, it announced that a 'vertical integration' model, where sensors and technology are integrated into the vehicle at the factory, will be adopted. These developments coincide with a period of major investments in AI infrastructure.
Competition in the Sector and Roadmap
With this round, Waabi's total funding has reached approximately $1.28 billion. Its competitors, Aurora Innovation and Kodiak Robotics, have raised $3.46 billion and $448 million, respectively. Waabi announced that it has postponed its plan to put fully driverless trucks on public roads to later quarters of this year. CEO Urtasun stated that safety validations are ongoing but believes market demand and the Uber partnership will enable rapid scaling.
As the tech world continues to watch AI's transformative impact across a broad spectrum from transportation to household robotics, the Waabi-Uber collaboration is seen as a significant testing ground that could accelerate the pace at which autonomous transportation meets consumers. Similarly, fairness in AI healthcare applications and AI regulations for youth are bringing debates about scaling technology responsibly.
