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 |
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.
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.
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 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 and can change significantly between them.
How much revenue does Waabi make?
Waabi is a private company and has not publicly disclosed its revenue. Estimates published by third-party sites are modelled, not reported by the company.
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.
When was Waabi founded and where is it based?
Waabi was founded in 2021 and is headquartered in Toronto, Ontario, Canada.