WASHINGTON (dpa-AFX) - Waabi, an autonomous vehicle startup, has secured $1 billion and struck a significant partnership with Uber to introduce self-driving cars to its ride-hailing platform.
This marks a major shift for Waabi as it expands beyond just autonomous trucking. The funding comprises a $750 million Series C round, led by Khosla Ventures and G2 Venture Partners, plus around $250 million in performance-based capital from Uber to roll out at least 25,000 Waabi-powered robotaxis.
This partnership shows a strong belief in Waabi's AI-first approach. Founder and CEO Raquel Urtasun claims this method can be scaled for various autonomous vehicle applications using a single technology framework.
Unlike other companies that have had a tough time juggling robotaxis and trucking, Waabi believes its versatile AI architecture lets it handle both efficiently.
Urtasun, who previously served as the chief scientist in Uber's autonomous vehicle division, mentioned that this partnership builds on Waabi's existing collaborations with Uber Freight.
Additionally, Uber is ramping up its autonomous initiatives with a new unit called Uber AV Labs, which is focused on aiding partners with data collection.
To date, Waabi has raised about $1.28 billion and is still testing its autonomous trucks in Texas, with plans to ramp up both its trucking and robotaxi ventures in the next few years.
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