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Volvo Community takes stake in self sustaining tech developer Waabi

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Volvo invests in self-driving tech company Waabi as it strikes in direction of self sustaining trucking.

January 18, 2023 01:49 PM

Waabi

Class 8 truck the expend of Waabi’s self sustaining driving blueprint.

The funding division of Volvo Community has made an undisclosed funding in Canadian self sustaining driving technology company Waabi Innovation.

The funding by the company that manufactures Volvo and Mack heavy-accountability trucks represents its peep that the commercialization of self sustaining driving will reach in freight motion earlier than passenger autos.

“Volvo Community can add appreciable strategic payment to the constructing of their change. We’re currently exploring ways to cooperate,” says Martin Witt, Volvo Community Mission Capital president.

Volvo Autos North America, the U.S. division of the Swedish company, already has a partnership with Aurora Innovation and plans to take a look at self sustaining trucks on freight routes.

Fully self sustaining trucking would add to freight capability, magnify efficiency thru better utilization of costly Class 8 trucks and toughen safety, Volvo Community talked about.

In a blog post, Waabi talked about the trucking change is challenged by a power driver shortage, increased freight search data from and long transit times.

“Solving these challenges and shaping the way in which forward for scaled self sustaining trucking requires most attention-grabbing-in-class consumers, technology suppliers, and companions working collectively to beget deeper, more transparent relationships with like a flash and shipper potentialities to ultimately provide the product that meets their needs,” the Toronto company talked about.

Remaining year, Waabi achieved two constructing milestones. It unveiled the Waabi Driver, its self-driving blueprint. And it launched its Waabi World simulator, which checks the Waabi Driver’s reactions to the myriad scenarios obligatory to hone its driving skills.

Tranquil, there is noteworthy constructing to be carried out, the company talked about.

“Autonomy will someday become trucking and logistics, nonetheless the self-driving change has no longer solved this whine yet,” talked about Raquel Urtasun, Waabi’s founder and CEO.

Volvo talked about its funding did no longer portray a field topic monetary match. It joins Khosla Ventures, Uber, Radical Ventures, 8VC, Omers Ventures and BDC Capital as Waabi consumers.

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