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- Waabi
Waabi Valuation, Funding & Investors
Waabi is valued at $3.8B as of January 2026.
Last Waabi valuation
$3.8B
Series C · Jan 2026
Last Waabi funding round
$750M
Series C · Jan 2026
Cumulative funding Waabi raised
$1B
across 3 funding rounds
Key investors in Waabi
Khosla Ventures
BDC Capital
Radical Ventures
Uber
8VC
Export Development Canada
About Waabi
Waabi is a Toronto-based autonomous vehicle company founded in 2021 by AI researcher Raquel Urtasun. It develops generative AI and a neural simulator for self-driving technology, initially focused on autonomous trucking and now expanding into robotaxis. Waabi partners with Uber Freight and Volvo on driverless truck deployment and is working toward Level 4 driverless operations.
Founded
2021
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Licensing
Valuation
$3.8B (Jan 2026)
Waabi Valuation
Waabi is currently valued at $3.8B, based on its Series C in January 2026.
The $750M round was led by G2 Venture Partners and Khosla Ventures, with participation from Porsche SE, Incharge Capital Partners, Export Development Canada, NVentures, Linse Capital and 5 other investors.
Waabi valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2026 | Series C | $3.8B |
Waabi Funding History
Waabi has raised a total of $1B across 3 funding rounds.
Waabi's first fundraising round was a $82M Series A in June 2021. The most recent completed round was a $750M Series C in January 2026.
Waabi funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2026 | Series C | G2 Venture Partners (lead); Khosla Ventures (lead); Porsche SE; Incharge Capital Partners; Export Development Canada; NVentures; Linse Capital; Abu Dhabi Investment Authority; Radical Ventures; BDC Capital; TELUS Global Ventures; Karman Ventures | $750M | $3.8B | Waabi, a Toronto-based autonomous vehicle startup founded in 2021, specializes in Physical AI for self-driving technology, initially focused on autonomous trucking and now expanding into robotaxis. On January 28, 2026, it closed an oversubscribed $750 million USD all-equity Series C round co-led by G2 Venture Partners and Khosla Ventures, with participation from investors including Uber, NVentures (Nvidia), Volvo Group Venture Capital, Porsche Automobil Holding, BlackRock, Radical Ventures, Abu Dhabi Investment Authority, BDC Capital, Export Development Canada, Incharge Capital, Linse Capital, and TELUS Global Ventures. Uber committed up to $250 million in additional milestone-based funding tied to deploying 25,000+ Waabi Driver-powered robotaxis on its platform, bringing total announced funding to $1 billion USD and Waabi's cumulative funding to $1.28 billion USD. The round is described as the largest primary capital fundraise in Canadian tech history, surpassing prior rounds like Wealthsimple's Series E. Waabi's technology emphasizes a generative AI model with a neural simulator for scalability across trucking and robotaxis, partnering with Uber Freight since 2023 and Volvo for long-haul trucks, with driverless operations planned into 2026. |
| Jun 2024 | Series B | Khosla Ventures (lead); Uber (lead) | $201M | - | Waabi, founded by AI expert Raquel Urtasun, develops generative AI for autonomous trucking and physical world applications, aiming for Level 4 driverless operations. The company announced an oversubscribed $200 million Series B funding round on June 18, 2024, led by Uber and Khosla Ventures, with participation from NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, HarbourVest Partners, G2 Venture Partners, BDC Capital, Export Development Canada, Radical Ventures, and Incharge Capital. This brought total funding to over $280 million. The capital supports Waabi's plans to deploy fully driverless generative AI-powered trucks in 2025, expand commercial operations, grow its team in Canada and the US, and leverage recent developments like a Texas AV trucking terminal, NVIDIA DRIVE Thor integration, and Uber Freight partnerships for Fortune 500 shipments in Texas. Waabi partners with Volvo for purpose-built autonomous trucks and follows a capital-efficient, simulation-first AI approach for scalability across trucking and beyond. Waabi declined to disclose valuation details for the Series B, focusing instead on strategic investor alignment in AI, logistics, and automotive sectors. By January 2026, Waabi raised a $750 million Series C co-led by Khosla Ventures and G2 Venture Partners, plus $250 million milestone-based from Uber for robotaxi deployment, totaling roughly $1.28 billion in funding. This expansion into robotaxis via Uber partnership builds on trucking progress, positioning Waabi against competitors like Aurora Innovation and Kodiak Robotics. |
| Jun 2021 | Series A | Khosla Ventures (lead); Pieter Abbeel; Sanja Fidler; Fei-Fei Li; Uber; Geoffrey Hinton; 8VC; Radical Ventures; OMERS Ventures; BDC Capital; Aurora; Golden Ventures | $82M | - | Waabi is a Toronto-based developer of self-driving technology, specializing in an artificial intelligence-based driverless system and a simulation system to train the AI driver for autonomous trucking and now expanding into robotaxis. The company completed a Series A round on June 8, 2021, raising $83.5 million led by Khosla Ventures with participation from 8VC, Aurora, BDC Capital, Fei-Fei Li, Geoffrey Hinton, Golden Ventures, OMERS Ventures, Pieter Abbeel, Radical Ventures, Sanja Fidler, Uber, and others. Subsequently, Waabi raised a $200 million Series B in June 2024 and a landmark $750 million Series C in January 2026 co-led by Khosla Ventures and G2 Venture Partners, bringing total funding to approximately $1.28 billion, marking the largest fundraise in Canadian history. The Series C included strategic investors like Uber, NVIDIA's NVentures, Volvo Group Venture Capital, Porsche Automobil Holding SE, BlackRock, Radical Ventures, HarbourVest Partners, and Canadian funds such as BDC Capital’s Thrive Venture Fund and Export Development Canada. This funding supports advancement of Waabi’s Physical AI Platform, commercial progress in autonomous trucking, and expansion into robotaxis via a partnership with Uber. Waabi's simulation-first end-to-end AI approach aims to accelerate commercial adoption while reducing capital needs for scaling autonomy, positioning it to drive vehicle efficiency and sustainability in transportation. Investors like Vinod Khosla highlight its groundbreaking Physical AI platform as a leap in driverless technology, with endorsements from NVIDIA's Jensen Huang. Competitors include Aurora Innovation ($3.46B raised) and Kodiak Robotics ($448M raised). |
Who has invested in Waabi?
21 investors have backed Waabi across its funding rounds, including Khosla Ventures, BDC Capital, Radical Ventures, Uber, 8VC and Export Development Canada.
Lead investors include G2 Venture Partners, Khosla Ventures and Uber.
Waabi Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2021 | ||
| 2 | Lead | Jun 2021 | ||
| 2 | Participant | Jun 2021 | ||
| 2 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jan 2026 | ||
This data is available for Pro users. Sign up to see all 21 Waabi investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialWaabi Competitors
Waabi competitors include listed companies like UBtech Robotics and Cidi, and private ones like Cowarobot, Didi Woya, Momenta and Avride.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $140M | - | $3B | 21.4x | ||
| Private | - | - | $5B | - | ||
| Private | $76M | - | $5B | - | ||
| Publicly listed | $298M | ($108M) | $5.1B | 9.5x | ||
| Private | - | - | $2.8B | - | ||
| Publicly listed | $132M | ($155M) | $1.3B | 5.0x |
Waabi Public Comps
Waabi is still privately-owned, but its public comps include Ondas, Avic (Chengdu) Uas, Infleqtion, Pony AI, Space42, Hesai Technology, Momenta Global, UBtech Robotics, WeRide and Symbotic.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $51M | ($127M) | 57.8x | 7.4x | (23.0x) | (31.0x) | |||
| $450M | $19M | 8.6x | - | 202.0x | - | |||
| $29M | ($52M) | 92.3x | 64.5x | (50.9x) | (60.0x) | |||
| $90M | ($71M) | 21.1x | 14.1x | (26.9x) | (7.9x) | |||
| $577M | $88M | 3.7x | 3.4x | 24.1x | 8.7x | |||
| $451M | $71M | 4.0x | 3.1x | 25.3x | 24.0x | |||
| $360M | ($502M) | 10.5x | - | (7.5x) | - | |||
| $298M | ($108M) | 16.6x | 9.5x | (45.7x) | (108.4x) | |||
This data is available for Pro users. Sign up to see all Waabi competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Waabi
| When was Waabi founded? | Waabi was founded in 2021. |
| Where is Waabi headquartered? | Waabi is headquartered in Canada. |
| Is Waabi publicly listed? | No, Waabi is a private, VC-backed company. |
| What is Waabi's valuation? | Waabi was last valued at $3.8B in its Series C in January 2026. |
| How much funding has Waabi raised? | Waabi has raised $1B across 3 funding rounds. |
| What was Waabi's last funding round? | Waabi's last funding round was a $750M Series C in January 2026, led by G2 Venture Partners and Khosla Ventures. |
| Who are Waabi's investors? | Waabi's investors include Khosla Ventures, Uber, Radical Ventures, BDC Capital, Pieter Abbeel, Porsche SE, Incharge Capital Partners, Sanja Fidler, Export Development Canada, Fei-Fei Li and 11 others. |
| Which companies are comparable to Waabi? | Companies comparable to Waabi include Cowarobot, Didi Woya, Momenta, UBtech Robotics, Avride and Cidi. |
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