financetom
Business
financetom
/
Business
/
Autonomous trucking startup Waabi raises $200 mln
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Autonomous trucking startup Waabi raises $200 mln
Jun 18, 2024 2:27 AM

June 18 (Reuters) - Waabi has raised $200 million in a

Series B funding round, led by existing investors Uber

Technologies ( UBER ) and Khosla Ventures, to support the

rollout of its fully autonomous trucks next year, it said on

Tuesday.

The company is also backed by Nvidia ( NVDA ) and relies on

its AI chips to power self-driving applications.

It currently operates autonomous trucks with safety drivers

on planned commercial routes but aims for full self-driving

deployment in 2025, four years after the company was founded.

Waabi uses its driving simulation software called the Waabi

World to test, train and program the trucks, reducing the risk

of testing on public roads and enables the company to be capital

efficient, Waabi CEO Raquel Urtasun told Reuters.

Self-driving technology has attracted heavy scrutiny from

safety regulators in the U.S. in recent months after accidents

and crashes involving vehicles from General Motors' ( GM ) Cruise

and Alphabet's Waymo.

Waabi raised $83.5 million in a Series A funding round in

2021, led by Khosla Ventures with additional backing from Uber ( UBER )

and Aurora Innovation ( AUR ).

The company has a 10-year partnership with Uber ( UBER ) freight to

transport cargo across commercial routes between Dallas and

Houston in Texas but plans to expand operations nationwide and

potentially internationally as well, Urtasun added.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved