Insider Brief
- Gatik raised $200 million in Series D financing to expand its autonomous trucking operations across retail, grocery and consumer packaged-goods supply chains.
- Qatar Investment Authority and Koch Disruptive Technologies led the round, with participation from Millennium Management, ARK Invest, Intact Private Capital and others, while Intact tripled its previous commitment.
- Gatik plans to use the funding to expand its high-frequency regional freight network, which uses AI-driven trucks on highways and local roads to move goods between distribution centers and stores.
Gatik has raised $200 million in Series D financing to expand its autonomous trucking operations.
Qatar Investment Authority and Koch Disruptive Technologies led the round, with participation from Millennium Management, ARK Invest, Intact Private Capital and other investors, according to Gatik. The Series D also brings additional backing from existing and new institutional investors. Intact Private Capital increased its investment in Gatik to three times its previous commitment, according to the company.
“We have built Gatik with real revenue, deep customer demand, and AI-driven autonomous technology proven every day in live supply chains,” co-founder and CEO Gautam Narang said in the announcement. “This round gives us the capital to scale with speed and discipline, serve the world’s largest companies, and define the future of autonomous freight.”
The California-based company indicated the new capital will support expansion of its autonomous freight model, which focuses on high-frequency regional routes connecting distribution centers with stores. Gatik said demand for autonomous freight is growing among large retail, grocery and consumer packaged-goods companies, and the company expects to add vehicles and expand operations for those customers with the latest funding.
Gatik develops AI-based autonomous driving technology for commercial trucks traveling not just on highways, but also on local roads. Gatik said its customers use the trucks to add freight capacity and move products across regional distribution networks, and its vehicles operate on dynamic routes that can change based on demand, distribution-center activity and pickup and delivery requirements.
According to Gatik, the company has more than $600 million in contracted revenue and has completed 85,000 fully driverless orders. It also reported a 99% on-time delivery rate across its operations.
Featured image: From L to R: Arjun Narang, Co-Founder and CTO, Apeksha Kumavat, Co-founder and Chief Engineer, and Gautam Narang, Co-Founder and CEO. (Credit: Gatik)
