Volvo Group Invests in Canadian Autonomous Trucking Technology Startup Waabi

Volvo Group Venture Capital AB has annoiunced an investment in the autonomous trucking technology company Waabi. The Canadian startup is developing next-generation artificial intelligence technology to solve autonomy at scale.

It recently unveiled the Waabi Driver, its core autonomous trucking solution, designed for large-scale commercialisation and safe deployment.

This solution is complemented by Waabi World, a scalable high-quality simulator, exposing the Waabi Driver to the vast diversity of scenarios needed to hone its driving skills and paving the way to widespread adoption of autonomous trucking.

Martin Witt, President of Volvo Group Venture Capital, says: “The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimately teach a virtual driver to maneuver safely and efficiently in a commercial-ready autonomous trucking solution. We are impressed by what they have accomplished and see that Volvo Group can add considerable strategic value to the development of their business. We are currently exploring ways to cooperate.” 

Raquel Urtasun, Founder and CEO of Waabi, adds: “Autonomy will one day transform trucking and logistics, but the self-driving industry has not solved this challenge, yet. Our AI-first approach is the key to unlocking this reality at scale. Volvo Group’s investment in Waabi marks the next step in our journey, particularly around our shared commitment to safety.”

“Partnerships and investments are key to commercializing autonomous transport solutions at scale. We welcome Volvo Group’s decision to invest in companies like Waabi who are building the new transport ecosystem,” comments Nils Jaeger, President of Volvo Autonomous Solutions.

Volvo Group Venture Capital was founded in 1997 and invests globally in venture companies.