Ingka Investments makes minority investment in autonomous trucking with generative AI firm Waabi

Ingka Investments, the investment arm of Ingka Group, has announced its participation in a $200 million Series B funding round for Waabi, a specialist in utilising generative AI for self-driving technology.

The funds will support Waabi’s deployment of fully driverless autonomous trucks in 2025.

Waabi has developed an AI system that is capable of reasoning and making decisions in various driving conditions and routes.

This solution, paired with Waabi World, a simulator where the self-driving system is trained and tested, aims to enable a safer, more efficient autonomous trucking solution that is highly capital efficient and scalable.

Peter van der Poel, Managing Director at Ingka Investments, comments: “Our mission at Ingka Group is to create a better everyday life for the many people. Waabi’s technology aligns perfectly with our commitment to sustainability and innovation.”

“This investment reflects our dedication to transforming industries through smart, efficient solutions that not only drive economic value but also contribute positively to society and the environment.”

“Ingka Group has strong ties to the retail and logistics space, and they share our mission of building a sustainable future by unleashing the potential of autonomous trucks to improve the supply chain,” says Raquel Urtasun, Waabi CEO and Founder.

“We are grateful for Ingka Group’s support and with this funding round, we’re confident that we have everything we need – both strategically and financially – to launch fully driverless trucks in 2025.”