Waabi Secures $1 Billion in New Funding to Lead Physical AI Revolution

Waabi, revolutionizing how humanity moves and connects, led by Raquel Urtasun, has closed its oversubscribed $750M USD Series C round co-led by Khosla Ventures and G2 Venture Partners, with participation from strategic investors, such as Uber, NVentures (NVIDIA’s venture capital arm), Volvo Group Venture Capital, and Porsche Automobil Holding SE, as well as financial investors: funds and accounts managed by BlackRock, Radical Ventures, HarbourVest Partners, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”), Linse Capital, Incharge Capital, and others. The company’s Series C raise also includes the participation of best-in-class Canadian investors: BDC Capital’s Thrive Venture Fund, Export Development Canada (EDC), TELUS Global Ventures, BMO Global Asset Management, and others. The company also secured an additional milestone-based future investment from Uber to support a new partnership to deploy robotaxis powered by the Waabi Driver exclusively on the Uber platform.

The record-breaking fundraise will accelerate Waabi’s Physical AI platform, scale its autonomous trucking business, and expand the company into robotaxi development.

Waabi, founded in 2021, has rapidly emerged as a leader in Physical AI. Its Physical AI Platform can generalize across vehicles, geographies, and environments, combining a verifiable end-to-end AI model with an advanced neural simulator. This enables a shared AI “brain” for both autonomous trucks and robotaxis, allowing seamless expansion into robotaxis while continuously improving performance across both applications.

Waabi’s Physical AI Platform has enabled rapid progress in autonomous trucking, with capabilities across highways and city streets. This unlocks a direct-to-customer model and creates a scalable path to expand into robotaxis using the same core AI system.

Investors say Waabi’s Physical AI is a breakthrough in autonomous driving, enabling real-world scale across trucking and robotaxis. Its simulation-first, end-to-end AI accelerates commercialization, reduces capital intensity, and could reshape transportation toward more efficient and sustainable autonomous systems.

Jensen Huang says autonomous driving is a massive AI opportunity, and Waabi stands out by treating self-driving as a scalable intelligence problem. Built on NVIDIA compute, Waabi is moving autonomy from research to real-world deployment and has the potential to become a major AI company.

Waabi is launching robotaxis and partnering exclusively with Uber to deploy them on the Uber platform. Uber will invest milestone-based capital and support the rollout of 25,000+ Waabi Driver-powered robotaxis, accelerating large-scale adoption of autonomous ride-hailing.

Uber CEO Dara Khosrowshahi said Waabi’s move into robotaxis is a major milestone for both the company and the autonomous vehicle industry, and that Uber is excited to deepen its partnership as Waabi scales its Physical AI platform and enters a new growth phase.