Volvo Group Venture Capital has invested in Canada-based Waabi Innovation, developing next-generation autonomous truck technology.
“The investment underscores the companies’ collective commitment to redefining the way we move goods and accelerating the deployment of future transportation solutions,” Volvo said in a statement.
“Waabi uses advanced artificial intelligence technology to test, assess and ultimately teach a virtual driver skills to maneuver safely and efficiently in a commercial autonomous truck solution. We are impressed by what they have achieved and see that the Volvo Group can bring significant strategic value to the development of their business. We are currently exploring opportunities to work together,” said Martin Witt, President of Volvo Group Venture Capital.
Freight traffic is increasing rapidly, with the trucking industry moving the bulk of the goods. Managing this growth has put tremendous pressure on every part of the supply chain industry. Fully autonomous trucking is key to providing additional capacity, increased safety and improved efficiency, while also supporting drivers on tiring routes.
“Partnerships and investments are key to commercializing autonomous transportation solutions at scale. We welcome Volvo Group’s decision to invest in companies like Waabi that are building the new transportation ecosystem,” said Nils Jaeger, President of Volvo Autonomous Solutions.
Waabi develops next-generation artificial intelligence to solve autonomy at scale. The company recently introduced the Waabi Driver, its flagship autonomous truck product designed for large-scale commercialization and safe deployment. This is complemented by Waabi World, a scalable simulator that exposes drivers to the wide variety of scenarios needed to improve driving skills, paving the way for widespread adoption of autonomous truck driving.
“Autonomy will one day transform trucks and logistics, but the self-driving industry has not yet solved this challenge,” said Raquel Urtasun, CEO of Waabi. “Our AI-First approach is key to unlocking this reality at scale. Volvo’s investment in Waabi marks the next step on our journey, particularly in relation to our shared commitment to safety.”
