Waabi Innovation secures Volvo Group investment

Volvo Group is Waabi Innovation, a Canadian-founded company that is developing autonomous trucking technology. Waabi uses artificial intelligence to test, assess skills, and teach virtual drivers to maneuver safely and efficiently, said Volvo Group Venture president Martin Witt, in a press release announcing the investment. "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." "Partnerships and investments are key to commercializing autonomous transport solutions at scale," added Nils Jaeger, president of Volvo Autonomous Solutions.

Volvo Group has joined investors in Waabi Innovation. (Photo: Volvo Trucks North America)

Waabi Driver, the autonomous trucking technology, complements the Waabi World simulator that exposes it to diverse scenarios to hone its driving skills. "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."

Urtasun, who leads a team based out of Toronto and California, is a professor in the University of Toronto Department of Computer Science and co-founder of the Vector Institute for AI.