Toronto-based autonomous trucking company, Waabi, has secured $200 million in a Series B funding round. The significant investment, backed by major corporations including Uber, Nvidia, Porsche, and Volvo, will boost the development and refinement of Waabi’s self-driving technology.
Bolstered by their latest success, Waabi aims to introduce fully autonomous vehicles to the market by 2025. To break away from the industry’s reliance on large fleets and human input for test scenarios, the company is heavily investing in machine learning algorithms and artificial intelligence (AI).
The goal is to significantly reduce human intervention by enabling autonomous vehicles to independently anticipate, learn, and respond to various road conditions and situations. Waabi believes this technology could initiate an era of unprecedented convenience and safety by revolutionizing transportation.
Waabi’s AI system imitates human-like processing of information, spotting potential vehicle issues that could be overlooked by human operators. This system, equipped with data-driven insights, allows for timely rectification, optimal vehicle performance, and reduced downtime. With this level of vigilance, vehicle management and maintenance are revolutionized.
The AI system employs machine learning to continuously improve from each situation.
Waabi’s $200M boost for autonomous trucking
By simulating scenarios and testing solutions within a safe, virtual environment, the AI system reduces on-road testing risks. In combination with Waabi World, a proprietary simulator, potential problems can be identified and remedied without expensive real-world mock-ups, leading to safer and more efficient operations.
Waabi’s CEO, Raquel Urtasun, claims that the company’s autonomous technology can effectively handle unknown situations. According to her, Waabi’s AI functionality does not rely on pre-defined scenarios and coding, but adapts to unpredictable activities and changes in terrain. Urtasun insists that all data stages can be analyzed for safety, providing concrete proof of the system’s competence.
Recently, Uber Freight paired up with Waabi’s AI-based software and sensor suite, Waabi Driver, to transport shipments across the U.S starting from September. This long-term partnership aims to integrate Waabi’s autonomous technology with the shipping industry. It plans to increase efficiency and safety by using automation to cut down labor costs, human errors, and fatigued-related accidents.
As part of the agreement, Waabi’s autonomous trucks will be integrated into Uber Freight’s network, giving Uber’s clients access to this innovative technology. The collaboration aspires to reshape the freight industry by making self-driving trucks the norm.
