Volvo Group Venture Capital AB invests in Waabi Innovation Inc, a Canadian business creating the next generation of autonomous transportation technology. The investment demonstrates the firms’ shared commitment to reimagining how we move products and accelerating the adoption of future transportation technologies.
“The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimately teach a virtual driver to maneuver safely and efficiently in a commercial-ready autonomous trucking solution. We are impressed by what they have accomplished and see that Volvo Group can add considerable strategic value to the development of their business. We are currently exploring ways to cooperate,” says Martin Witt, President of Volvo Group Venture Capital.
Volvo Group believes completely autonomous trucker transportation is critical for increasing capacity, improving safety, and increasing efficiency while also assisting drivers on long journeys.
“Partnerships and investments are key to commercializing autonomous transport solutions at scale. We welcome Volvo Group’s decision to invest in companies like Waabi who are building the new transport ecosystem,” says Nils Jaeger, President of Volvo Autonomous Solutions.
Waabi is working on next-generation artificial intelligence technologies to tackle the problem of autonomy at scale. The Waabi Driver, the company’s main autonomous trucking solution, was recently announced and is intended for large-scale commercialization and safe deployment. This solution is augmented by Waabi World, a scalable high-quality simulator that exposes the Waabi Driver to the wide range of scenarios required to polish its driving abilities and pave the path for mainstream adoption of autonomous trucking.
“Autonomy will one day transform trucking and logistics, but the self-driving industry has not solved this challenge, yet,” said Raquel Urtasun, Founder and CEO of Waabi. “Our AI-first approach is the key to unlocking this reality at scale. Volvo Group’s investment in Waabi marks the next step in our journey, particularly around our shared commitment to safety.”