Uber’s next chapter could be driven by Canadian tech.
What happened: Toronto-based autonomous vehicle startup Waabi just closed a US$750 million funding round, marking one of the largest venture capital raises in Canadian history. The company also announced a new tie-up with Uber to launch a fleet of at least 25,000 robotaxis in the near future.
Waabi, which was founded by Uber’s former chief scientist Raquel Urtasun, already partners with Uber Freight to run cargo between Dallas and Houston.
Waabi says it's the first company to build what it calls a shared “AI brain" that can operate everything from trucks to drones to warehouse robots.
Why it matters: This isn’t just a big deal for a promising Canadian startup, it also marks something of a renaissance for Uber’s robotaxi push, which looked to have hit a dead end when the ridesharing giant abandoned its efforts to build a self-driving car in 2020.
In addition to allowing its users to order up robotaxis from other companies like Waymo on its app, Uber is now recruiting partners to launch vehicles exclusively on its network.
Yes, but: Robotaxis have seen strong adoption in some U.S. cities (20% of all Uber rides in Austin, Texas, were in Waymos), but it remains to be seen if Waabi’s tech will perform at scale in urban environments. Meanwhile, Waymo is continuing to expand into new cities.
In Canada, driverless vehicles still aren’t permitted outside of a few approved pilot projects.
Bottom line: Nobody has a crystal ball to see when driverless cars will become our new norm, but Uber’s CEO predicts every car on the road will be autonomous in 20 years, and that driving will become a novel activity akin to horseback riding.—LA