Waabi—founded in 2021 by AI pioneer Raquel Urtasun—raised approximately $750 million in a Series C round led by Khosla Ventures and G2 Venture Partners. The round saw participation from a heavy-hitting lineup of strategic and institutional investors, including NVIDIA’s venture arm, Volvo Group Venture Capital, Porsche Automobil Holding SE, BlackRock, and ADIA. When including Uber’s additional contribution, the total capital raise nears the $1 billion mark. 

Uber Partnership: 25,000+ Robotaxis Planned 

A centerpiece of the deal is a partnership with Uber, which is committing up to $250 million in additional capital tied to specific development milestones. The agreement focuses on integrating Waabi’s technology—specifically the "Waabi Driver" AI software—into autonomous vehicle services on the Uber platform. The goal is to equip and operate a fleet of at least 25,000 robotaxis. For Uber, this move signals a renewed push to bolster its autonomous ride-hailing capabilities. 

This robotaxi fleet is intended to operate exclusively on the Uber platform initially, though specific launch dates and service areas have not yet been officially disclosed. Under the deal, Waabi acts as the technology provider, while Uber leverages its massive platform reach and infrastructure. 

From Autonomous Trucking to Robotaxis: A Strategic Expansion 

Waabi originally specialized in autonomous trucking, aiming to automate long-haul freight through AI. The company utilizes a "Physical AI Platform," which provides a scalable autonomous driving system adaptable to various vehicle types and environments. According to the company, Waabi is one of the few startups developing a unified AI platform capable of handling both long-haul highway driving and complex urban autonomous operations.