University of Toronto Researcher Raquel Ultason Self-driving startup Waabi has added the venture capital arm of Swedish automaker Volvo to its list of investors to watch.
Volvo Group Venture Capital AB is investing an undisclosed amount in Toronto-based Waabi’s AI-powered self-driving truck technology, according to TechCrunch.
“We have been very selective in terms of who we bring on as investors and this is the right time for Waabi to bring on a strategic OEM. [original equipment manufacturer]Urtasun, professor of computer science at the University of T and founder and CEO of Waabi, told a prominent US tech website:
Waabi has already raised over $100 million from investors including Khosla Ventures, Uber and other Silicon Valley giants.Also among its supporters are his AI luminaries Jeffrey HintonProfessor Emeritus of Computer Science, University of T, and Sanja FiddlerAssociate Professor of Computer Science.
Ulterson speaks earth and mail Volvo’s investment boosts Waabi’s valuation ‘significantly’.
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