Waabi Raises US$750 Million Series C and Partners With Uber on Robotaxis

Waabi closed a US$750 million Series C co-led by Khosla Ventures and G2 Venture Partners and said Uber would commit up to US$250 million more in milestone-based capital to put Waabi-powered robotaxis on the Uber network.

Strategic investors in the equity round include Uber, Nvidia’s NVentures, Volvo Group Venture Capital, and Porsche SE, alongside BlackRock, Radical Ventures, BDC Capital’s Thrive fund, Export Development Canada, and TELUS Global Ventures. Waabi put total capital raised at about US$1.28 billion.

The headline number is the trucking business, where Waabi has spent years arguing that a single driver stack can generalize. The new money is also a category change: robotaxis, exclusively on Uber, at a promised scale of 25,000 vehicles with no public timeline. Milestone capital is not the same as cash in the bank. It is an option Uber can exercise if the cars actually show up.

For Canada’s private-market map, Waabi now sits in the same conversation as Wealthsimple and Clio — a company whose round size is a national event. The economic question is narrower. Autonomous trucking either cuts the cost of moving goods across a continent or it does not. Robotaxis either take labour out of urban transport or they remain a demo. This round buys time to find out which.