Ingka Investments, the investment arm of Ingka Group, announced its participation in the $200 million Series B funding round for Waabi, a pioneer in utilizing generative AI for self-driving technology. The funds will support Waabi’s deployment of fully driverless autonomous trucks in 2025.
Waabi has taken a unique approach in self-driving by developing a powerful AI system that is highly capable of reasoning and making decisions in various driving conditions and routes. This breakthrough, paired with Waabi World, an advanced simulator where the self-driving system is trained and tested, enables a safer, more efficient autonomous trucking solution that is highly capital efficient and scalable.
Peter van der Poel, Managing Director of Ingka Investments, commented, “Our mission at Ingka Group is to create a better everyday life for the many people. Waabi’s technology aligns perfectly with our commitment to sustainability and innovation. This investment reflects our dedication to transforming industries through smart, efficient solutions that not only drive economic value but also contribute positively to society and the environment.”
Raquel Urtasun, Waabi CEO and founder, said, “Ingka Group has strong ties to the retail and logistics space, and they share our mission of building a sustainable future by unleashing the potential of autonomous trucks to improve the supply chain. We are grateful for Ingka Group’s support and with this funding round, we’re confident that we have everything we need – both strategically and financially – to launch fully driverless trucks in 2025.”
Waabi, founded by AI visionary Raquel Urtasun, is pioneering generative AI for the physical world, first by applying this technology to overhaul the autonomous trucking industry. Waabi is backed by best-in-class investors across the technology, AI, automotive, logistics, and Canadian innovation ecosystems, including Uber, Khosla Ventures, NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest, Ingka Investments, BDC, EDC, Radical Ventures, and others.
