Waabi Raises $1 Billion to Scale Physical AI Across Trucks and Robotaxis

• Waabi closed a $750M Series C led by Khosla Ventures and G2 Venture Partners, with additional milestone-based funding committed by Uber.
• The company will expand its Physical AI Platform beyond autonomous trucking to launch robotaxis exclusively on the Uber platform.

Toronto-based Waabi announced it has closed its oversubscribed $750 million Series C funding round, marking what the company says is the largest fundraising in Canadian history. The round was co-led by Khosla Ventures and G2 Venture Partners, with participation from strategic investors including Uber, NVIDIA’s NVentures, Volvo Group Venture Capital, and Porsche Automobil Holding SE. Additional funding will come from Uber based on future milestones tied to a new robotaxi partnership.

The Physical AI Platform combines a verifiable end-to-end AI model with what the company calls the world’s most advanced neural simulator. This setup allows a single model to operate across trucks and robotaxis, enabling rapid, seamless expansion into new applications. The system is designed to generalize across vehicle types, road conditions, and geographic regions, using shared learning to accelerate progress in both verticals. The new funding will advance both commercialization in autonomous trucking and Waabi’s entry into robotaxis.

"Waabi is fundamentally changing the trajectory of autonomous transportation," said Brook Porter, Partner and Co-Founder at G2 Venture Partners, in a press release. "Their simulation-first end-to-end AI is a powerful enabler, accelerating commercial adoption while dramatically reducing capital needs to scale. Waabi is unlocking the potential for autonomy to drive vehicle efficiency and utilization, catalyzing the shift to a more sustainable transportation system."

As part of its expansion, Waabi will partner exclusively with Uber to deploy robotaxis powered by the Waabi Driver on the Uber platform. Uber plans to support the rollout of 25,000 or more vehicles over time. "We’re very excited to deepen our partnership with Waabi," said Uber CEO Dara Khosrowshahi in a press release.

🌀 Tom’s Take:

A single AI system powering both trucks and robotaxis is both a technical win and a commercial shortcut. Every mile driven improves both fleets, collapsing timelines and costs across two of autonomy’s biggest markets.

Source: GlobeNewswire / Waabi