Volvo Group Venture Capital AB invested in Canadian company Waabi Innovation Inc.
Waabi is developing next-generation artificial intelligence technology to solve autonomy at scale. Waabi Driver is its core autonomous trucking solution, complemented by Waabi World, a scalable high-quality simulator.
"Autonomy will one day transform trucking and logistics, but the self-driving industry has not solved this challenge yet," says Waabi Founder and CEO Raquel Urtasun. "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."
Volvo Group says that fully autonomous trucking is the key to improving capacity, safety and improved efficiency, but also to supporting drivers in tiresome drives.
"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," says Martin Witt, president of Volvo Group Venture Capital. "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."