Self-Driving Truck Startup Raises $1 Billion, Adds Robotaxis (1)

Waabi Innovation Inc., a Canadian startup that develops self-driving technology for trucks, has secured $1 billion in funding for its commercial expansion, including entering the robotaxi market with partner Uber Technologies Inc.

The Toronto-based company closed a $750 million round led by existing backers Khosla Ventures LLC and G2 Venture Partners, according to founder and Chief Executive Officer Raquel Urtasun. The round was oversubscribed by “hundreds of millions of dollars and we actually closed the entire fundraise in a quarter,” she said in an interview. The company declined to share its latest valuation.

Other investors in Waabi’s Series C round ...