Funding round
Waabi Series B
Waabi, which works in autonomous vehicle development in Toronto, raised $200M in a Series B round announced on 18 Jun 2024, led by Uber and Khosla Ventures. 13 firms took part, 10 of them already investors. It is Waabi's second venture round on record; the one before was a Series A in Jun 2021.
$200M
Amount raised
Not disclosed
Post-money valuation
13
Investors
2 leads
Valuation
What this round says about the price
Waabi did not disclose a valuation in this round. It came 36 months after Waabi's Series A. It is 19% of the $1.03B Waabi has raised in the venture rounds on record. Waabi raised again 19 months later: a Series C round of $750M in Jan 2026.
Investors
Who put money in
Uber and Khosla Ventures led the round with 11 other firms. Uber, Khosla Ventures, Scania Invest and Ingka Investments and 6 more had backed Waabi before.
Lead investors
- Uber existing investor
- Khosla Ventures backs 396 venture-backed companies existing investor
Also in the round
- NVIDIA new investor
- Volvo Group Venture Capital new investor
- Porsche Automobil Holding SE new investor
- Scania Invest existing investor
- Ingka Investments existing investor
- HarbourVest backs 37 venture-backed companies existing investor
- backs 33 venture-backed companies existing investor
- BDC Capital’s Thrive Venture Fund existing investor
- Export Development Canada existing investor
- backs 65 venture-backed companies existing investor
- backs 2 venture-backed companies existing investor
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
607 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 6.7 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 26 Jun 2024 | $90M | not disclosed | Battery Ventures |
| Tech Companies | 1 Jun 2024 | $80M | $700M | Spark Capital |
| Tech Companies | 17 Jun 2024 | $70M | $356M | Highland Europe and AVP |
| Tech Companies | 24 Jun 2024 | $70M | not disclosed | not named |
| Axelera AI Tech Companies | 27 Jun 2024 | $68M | not disclosed | not named |
| Tech Companies | 25 Jun 2024 | $67M | not disclosed | Hedosophia |
| Tech Companies | 27 Jun 2024 | $62M | $500M | Meritech Capital |
| Tech Companies | 1 Jun 2024 | $53M | not disclosed | Sorenson Capital |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Waabi raise in its Series B round?
Waabi raised $200M in its Series B round, announced in Jun 2024.
Who led Waabi's Series B round?
Uber and Khosla Ventures led it, with NVIDIA, Volvo Group Venture Capital, Porsche Automobil Holding SE, Scania Invest and Ingka Investments and 6 more.
What was Waabi's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
607 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 6.7 times the median.
Did Waabi raise again after this round?
Yes: a Series C round in Jan 2026 of $750M.