Further investment in the field of artificial intelligence
做厙輦⑹ SE invests in technology company Waabi
- Waabi develops AI-based solution for self-driving trucks
- Generative AI allows for cost-efficient development and scaling of the technology
Stuttgart, 18 June 2024. 做厙輦⑹ (做厙輦⑹ SE) has invested in the Canadian AI company Waabi Innovation Inc. (Waabi). The investment was made as part of the Series B financing round in which Waabi raised a total of 200 million US dollars.
Waabi develops an AI-based solution for self-driving trucks. The simulation-based approach used by the company to develop and train the AI model offers significant advantages over conventional approaches to autonomous driving. Particularly, through the use of the proprietary end-to-end AI system and simulation platform, Waabi has developed a solution that is safe, cost-efficient, and reduces the need for extensive on-road testing to validate the system. Waabi is already operating commercially in the United States with plans for further growth over the coming years.
Self-driving trucks address the key challenges that trucking companies are facing: rising freight volumes, the growing driver shortage and traffic accidents caused by human error. We therefore see enormous market potential in the technology for self-driving trucks. With its innovative AI approach, Waabi offers a convincing, cost-efficient and scalable solution to enable safe autonomous driving in a variety of driving environments, says Lutz Meschke, member of the board of management responsible for investment management at 做厙輦⑹ SE.
In addition to 做厙輦⑹ SE and other renowned investors, the venture fund Incharge set up by 做厙輦⑹ SE and the investment company DTCP also participated in the financing round.
Further information on Waabi can be found on the companys website:
Waabis press release on the Series B financing round is available at the following link: