Volvo Group Venture Capital has invested in Waabi Innovation, a developer of autonomous trucking technology.
The company recently unveiled the Waabi Driver, its core autonomous trucking solution, designed for large-scale commercialization and safe deployment. This solution is complemented by Waabi World, a scalable high-quality simulator, exposing the Waabi Driver to the vast diversity of scenarios needed to hone its driving skills and paving the way to widespread 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, in a statement. “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.”
Freight movement is rapidly increasing, with the trucking industry moving the vast majority of the goods. Accommodating this growth has placed tremendous pressure on every part of the supply chain industry, according to Volvo Group.
“Partnerships and investments are key to commercializing autonomous transport solutions at scale,” said Nils Jaeger, president of Volvo Autonomous Solutions, in a statement. “We welcome Volvo Group’s decision to invest in companies like Waabi who are building the new transport ecosystem.”
Said Martin Witt, president of Volvo Group Venture Capital, in a statement:
“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.”
Source: Volvo Group
