On June 8, 2021, Waabi announced its launch to build the next generation of self-driving technology, funded by its US$83.5 million Series A financing round. The funding is one of the largest Series A rounds ever raised by a Canadian startup and was led by Khosla Ventures and included participation from best-in-class investors in the technology, logistics and innovation sectors. Along with the launch, Waabi will focus on developing its software in the logistics and long-haul trucking industries and has selected Toronto as a critical hub to develop and test its software and scale its team as the organization grows.
Waabi, founded by Raquel Urtasun, is an AI company specializing in self-driving technology focused on its AI-first approach which uses deep learning, probabilistic interference and complex optimization to create software capable of complex reasoning.
Osler, Hoskin & Harcourt LLP advised Waabi with a team consisting of Chad Bayne, Justin Dharamdial, Horatiu Porime and Jordana Corber-Tovel (Emerging and High Growth Companies), Nathaniel Lipkus (Intellectual Property), Steven Dickie and Summer Danakas (Employment & Labour) and Josh Disenhouse (Real Estate).