Gatik Raises $200 Million to Expand Autonomous Trucking Model
Autonomous trucking company Gatik has raised $200 million in new funding. The new financing, announced in a news release Tuesday (Aug. 25), will help Gatik expand its model, designed to transport goods along what it calls the “high-frequency regional routes” linking distribution centers and stores. “These routes are time-sensitive, operationally complex and essential to keeping shelves stocked as…
Autonomous trucking firm Gatik has secured $200 million in fresh funding, aimed at broadening its model for transporting goods along high-frequency regional routes connecting distribution centers and stores. These routes are critical in ensuring shelves remain stocked, given the growing demand for rapid and dependable delivery of everyday products.
The company disclosed that it now boasts over $600 million in contracted revenue and has successfully completed 85,000 fully autonomous deliveries, with a 99% on-time rate. This is a significant increase from the 60,000 orders mentioned in January. Gatik reported that these driverless deliveries have been incident-free, clocking more than 2,000 hours of operation and covering over 10,000 miles on public roads.
Byron Knight, president of Koch Disruptive Technologies, which spearheaded the funding round, emphasized the growing significance of autonomous freight in enhancing the efficiency and reliability of supply chains. Gatik, established in 2017 by industry veterans, offers an "autonomous delivery as a service" solution, encompassing autonomous trucks, telematics, and a dispatching system.
CEO Gautam Narang highlighted that their service extends beyond technology to provide comprehensive support, managing all aspects of their customers' operations.
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