Gatik has collected $200M in what the autonomous trucking startup calls its largest round to date, weeks after expanding its driverless delivery work with PepsiCo. Qatar Investment Authority and Koch Disruptive Technologies led the raise, with Millennium Management, ARK Invest and Intact Private Capital joining in. The company declined to disclose its valuation.
The Santa Clara, California-based startup has now raised roughly $500M since emerging from stealth in 2019. Its focus is middle-mile delivery: driverless box trucks built by Isuzu that move food and beverages from distribution centers to stores over fixed routes, which have grown from trips under 10 miles to dynamic routes covering up to 400 miles.
Gatik’s customers include Canada’s Loblaw, Kroger and Tyson Foods, and its largest public partnership is with PepsiCo, where 41 driverless trucks shuttle Frito-Lay products to retailers in Dallas, Phoenix and Northwest Arkansas. Walmart was its first customer, disclosed six years ago. Last year the company reached the milestone of removing safety drivers from commercial routes, and its third-generation trucks now operate around the clock in conditions that include light rain and snow.
CEO Gautam Narang said the fresh capital will fund more driverless trucks, customers and cities, and eventually expansion beyond North America, backed by what he called long-term financial partners.
