A autonomous vehicle startup based in Canada has just attracted some of the largest venture capital funds and technology giants in the world to back an ambitious vision: using artificial intelligence for self driving cars.
What’s happening:
- Toronto based autonomous vehicle startup Waabi has raised $275M CAD in a new Series B financing round
- The round was led by Uber (NASDAQ: UBER) and legendary Silicon Valley venture capital fund Khosla Ventures
Why it matters:
- Autonomous vehicle startups have been on the rise recently, with countries such as Dubai beginning to embrace autonomous vehicles for public roads for the first time ever
- Waabi already has multiple notable partnerships, including with Uber Freight to leverage self driving vehicle technology for commercial transportation and logistics
By the numbers:
- Waabi has now raised $375M in venture capital funding since inception
Going deeper:
- Waabi’s recent Series B financing also saw multiple new notable participants, including technology giant Nvidia (NASDAQ: NVDA) and Porsche
- Porsche has also invested heavily into autonomous vehicle technology company Applied Intuition, previously leading their last financing round alongside of Lux Capital
