Waabi Raises $750M and Strikes Uber Robotaxi Deal to Scale Physical AI Platform

New updates have been reported about Waabi.

Waabi has closed an oversubscribed $750 million Series C round and signed a major strategic partnership with Uber that positions the Toronto-based Physical AI company as a central player in autonomous trucking and robotaxis. The round, co-led by Khosla Ventures and G2 Venture Partners and described as the largest fundraise in Canadian history, brings in a broad syndicate of strategic and financial investors including Uber, NVIDIA’s NVentures, Volvo Group Venture Capital, Porsche SE, BlackRock, ADIA (via a subsidiary), and leading Canadian institutions such as BDC Capital, EDC, TELUS Global Ventures, and BMO Global Asset Management. In parallel, Uber has committed additional milestone-based capital tied to Waabi’s progress in developing and deploying robotaxis, including a plan to roll out 25,000 or more vehicles powered by the Waabi Driver on the Uber platform over time, under an exclusive robotaxi deployment arrangement. For executives, this combination of scale financing plus a guaranteed go-to-market channel significantly de-risks Waabi’s commercialization path and accelerates its transition from trucking-only to a multi-vertical autonomy provider.

The new capital will be used to advance Waabi’s Physical AI Platform, which integrates a single verifiable end-to-end AI model with a highly advanced neural simulator, allowing one shared “brain” to operate both autonomous trucks and robotaxis across varied geographies and environments. This simulation-first architecture is designed to cut development cost and time to scale, enabling faster iteration than traditional road-testing-heavy approaches and supporting Waabi’s emerging direct-to-customer model in trucking. CEO Raquel Urtasun says Waabi already has self-driving capabilities spanning highways and complex surface streets, which underpin the company’s rapid move into robotaxis while continuing to enhance its freight offering. The Uber partnership gives Waabi immediate access to a global ridesharing network and demand pool, while investors such as Khosla Ventures and G2 Venture Partners frame Waabi’s technology as a step-change that could define the next era of autonomous transportation, with implications for asset utilization, operating efficiency, and transportation sustainability. For stakeholders, the key takeaways are Waabi’s strengthened balance sheet, validated technology thesis, locked-in channel to scale robotaxis, and a platform strategy that leverages progress in one autonomy application to reinforce another.