On January 18, 2023, Waabi Innovation Inc. received an investment of an undisclosed amount from Volvo Group Venture Capital AB, the car-maker’s venture capital arm. This is Waabi’s first automaker investor and will increase their valuation significantly. Through this investment, Waabi plans on working with Volvo to continue to develop an AI powered simulator that will be targeting the trucking industry.
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, Mihnea Horatiu Porime and Jordana Corber-Tovel (Emerging & High Growth).