Funding round
Waabi Series A
Waabi, which works in autonomous vehicle development in Toronto, raised $84M in a Series A round announced on 8 Jun 2021, led by Khosla Ventures. 7 firms took part, 1 of them already investors, with 4 individual investors. It is Waabi's first venture round on record.
$84M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Waabi did not disclose a valuation in this round. It is Waabi's first venture round on record, in the year it was founded (2021). It is 8.1% of the $1.03B Waabi has raised in the venture rounds on record. Waabi raised again 36 months later: a Series B round of $200M in Jun 2024.
Investors
Who put money in
Khosla Ventures led the round with 6 other firms. Radical Ventures had backed Waabi before.
Lead investor
- Khosla Ventures backs 396 venture-backed companies new investor
Also in the round
- Uber new investor
- backs 65 venture-backed companies existing investor
- 8VC new investor
- backs 67 venture-backed companies new investor
- BDC Capital’s Women in Technology Venture Fund (WIT) new investor
- Aurora Innovation Inc. new investor
Individual investors: Geoffrey Hinton, Fei-Fei Li, Pieter Abbeel and Sanja Fidler.
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,789 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 7.0 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Transmit Security Tech Companies | 22 Jun 2021 | $543M | $2.20B | Insight Partners and General Atlantic |
| Tech Companies | 8 Jun 2021 | $110M | not disclosed | Insight Partners |
| Tech Companies | 9 Jun 2021 | $61M | not disclosed | EQT Ventures |
| Tech Companies | 10 Jun 2021 | $37M | not disclosed | Lead Edge Capital |
| Tech Companies | 18 Jun 2021 | $34M | not disclosed | Andreessen Horowitz |
| Tech Companies | 30 Jun 2021 | $32M | not disclosed | Goldman Sachs Asset Management |
| Tech Companies | 3 Jun 2021 | $31M | $80M | not named |
| Tech Companies | 8 Jun 2021 | $30M | not disclosed | Quantonation and Defense Innovation Fund |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Waabi raise in its Series A round?
Waabi raised $84M in its Series A round, announced in Jun 2021.
Who led Waabi's Series A round?
Khosla Ventures led it, with Uber, Radical Ventures, 8VC, OMERS Ventures and BDC Capital’s Women in Technology Venture Fund (WIT) and 1 more.
What was Waabi's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,789 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 7.0 times the median.
Did Waabi raise again after this round?
Yes: a Series B round in Jun 2024 of $200M.