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Self-driving technology firm Waabi has landed $750 million in new financing, a massive capital infusion that coincides with a sweeping partnership with Uber aimed at rolling out tens of thousands of robotaxis.

The announcement Wednesday places the Canadian startup at the center of an accelerating race to commercialize autonomous transportation, as artificial intelligence moves from simulation labs to real-world streets.

A Landmark Series C Round

The Series C funding round was co-led by Khosla Ventures and G2 Venture Partners, according to the company’s statement, marking what Waabi described as the largest fundraising round in Canadian history.

Founded in 2021, Waabi has developed a Physical AI platform designed to power both autonomous trucks and robotaxis — a dual-track strategy that executives say unlocks scalability across transportation sectors.

Physical AI at Highway Speed

“Waabi’s Physical AI Platform has enabled us to move at an industry-leading pace,” said founder and CEO Raquel Urtasun, pointing to the company’s progress in deploying autonomous driving systems on highways and complex urban streets.

Urtasun said those capabilities have opened a direct-to-customer model that tackles long-standing industry bottlenecks and creates a seamless entry into the robotaxi market.

The goal, she added, is a system that scales like software but operates with the precision of a seasoned human driver — everywhere.

Investors See a Defining Breakthrough

Khosla Ventures founder Vinod Khosla called Waabi’s platform a fundamental leap forward in driverless technology, saying it reshapes how autonomous systems are built and deployed.

He said the company’s rapid progress in trucking and expansion into robotaxis signals the arrival of true real-world scale, a milestone long promised but rarely delivered in autonomous driving.

“This breakthrough will define AI for decades,” Khosla said.

A Deep Bench of Backers

The funding round drew participation from a wide slate of strategic and institutional investors, including Uber, NVentures, Volvo Group Venture Capital, and Porsche Automobil Holding SE.

Additional backing came from funds and accounts managed by BlackRock, Radical Ventures, HarbourVest Partners, Linse Capital, and Incharge Capital, among others.

Brook Porter, partner and co-founder at G2 Venture Partners, said Waabi’s simulation-first, end-to-end AI sharply accelerates commercial adoption while lowering the capital required to scale — a rare combination in an industry known for high burn rates.

Uber Deal Targets 25,000 Robotaxis

Alongside the funding news, Waabi unveiled a new strategic partnership with Uber, which includes a milestone-based investment of undisclosed size.

Under the agreement, Uber plans to deploy 25,000 or more Waabi Driver-powered robotaxis over time, operating exclusively on the Uber platform, according to the statement.

Uber CEO Dara Khosrowshahi said the expanded collaboration marks a pivotal moment not only for Waabi, but for the autonomous vehicle sector as a whole.

He said the company’s shift into robotaxis signals a new phase of growth built on an already strong technological foundation.

What Comes Next

Waabi said the fresh capital will be used to further advance its Physical AI platform, accelerate commercial deployment in autonomous trucking, and support its expansion into robotaxi operations.

Legal counsel information for the law firms advising the parties was not immediately available Wednesday.