Waabi closes in on $750-million financing, valuing driverless truck company at $3-billion [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
Listen to this article Learn more about audio Log in or create a free account to listen to this article. The four-year-old Toronto startup is expected to close a financing that could exceed US$750-million as soon as this month. The deal is co-led by Silicon Valley financiers Khosla Ventures and G2 Venture Partners, and includes US$250-million from Uber Technologies, Inc., the former employer of Waabi CEO and founder Raquel Urtasun. The deal would value Waabi at US$3-billion before the receipt of funds raised. A spokesperson for Waabi said the company does not comment on rumours or speculation. The financing comes 18 months after Waabi raised $200-million in an oversubscribed venture capital financing that was co-led by Uber and Khosla and backed by global investors including chip giant Nvidia, Volvo Group Venture Capital, Porsche Automobile Holding, SE, Scania Invest and Ingka Investments, affiliated with retail colossus Ikea, and Canada's Radical Ventures. Waabi secured
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