The Swedish auto giant and Mack Truck-maker’s venture-capital arm invested an undisclosed sum as an extension of the Canadian autonomous-trucking startup’s Series A round from June 2021, when University of Toronto AI researcher and former Uber executive Raquel Urtasun launched the firm. (The Logic)

Talking point: The deal aims to increase Waabi’s access to the global truck industry and lets Volvo collaborate with the startup’s AI driver simulator. With truck brands under Renault, Mack, Dongfeng as well as joint ventures with Daimler, Volvo has worldwide commercial trucking clients that are Waabi’s core customers. That could fast-track Waabi toward commercialization at a time when some AV firms are struggling to make a business case. Last year, Ford- and Volkswagen-backed Argo AI shuttered after it failed to attract new investors, and Tesla laid off hundreds of Autopilot employees. Volvo has also worked on trucking with Waabi Series A backer Aurora, the AV firm which is led by Canadian Chris Urmson.