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Volvo Group Venture Capital AB invests in Waabi

Jan. 18, 2023
The Volvo Group is investing in autonomous trucking as a key asset to providing additional capacity, better safety, and improved efficiency while supporting drivers.

Volvo Group Venture Capital AB invested in the Canadian-founded company Waabi Innovation Inc to develop the next generation of autonomous trucking technology.

“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,” said Martin Witt, president of Volvo Group Venture Capital. “We are impressed by what they have accomplished and see that Volvo Group can add considerable strategic value to the development of their business.”

Waabi is developing next-generation artificial intelligence technology to solve autonomy at scale. The company recently unveiled the Waabi Driver, its core autonomous trucking solution, designed for large-scale commercialization 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.

“Autonomy will one day transform trucking and logistics, but the self-driving industry has not solved this challenge, yet,” said Raquel Urtasun, founder and CEO of Waabi. “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.”

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