Volvo invests in autonomous truck firm Waabi

  • January 24, 2023
  • William Payne

Volvo Group Venture Capital AB has invested in Canadian company Waabi Innovation, which is developing a new generation of autonomous trucking technology. Waabi is developing machine learning to solve autonomy at scale. The company recently unveiled Waabi Driver, its core autonomous trucking solution. This is designed for large-scale commercialisation and safe deployment. Waabi Driver is complemented by Waabi World, a scalable simulator, exposing the Waabi Driver to a range of scenarios needed to hone its driving skills and paving the way to widespread adoption of autonomous trucking.

“The company Waabi is using advanced artificial intelligence technology to test, assess skills, and ultimately teach a virtual driver to manoeuvre 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,” said Martin Witt, President of Volvo Group Venture Capital.

Accommodating the increase in freight movement has placed pressure on every part of the supply chain industry. Volvo Group see that fully autonomous trucking transports are key to provide additional capacity, better safety and improved efficiency but also support drivers in tiresome routes.

“Partnerships and investments are key to commercialising autonomous transport solutions at scale. We welcome Volvo Group’s decision to invest in companies like Waabi who are building the new transport ecosystem,” said Nils Jaeger, President of Volvo Autonomous Solutions.

“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.”