Gatik raises $200M to grow driverless fleet past 100 trucks this year

Autonomous trucking startup Gatik AI Inc. secured a $200 million Series D investment to rapidly grow its fleet of driverless trucks. The funding brings total capital raised by the company to approximately $500 million. Gatik aims to expand its driverless fleet from the current 50 trucks to over 100 by the end of the year, serving short regional routes and completing 85,000 autonomous deliveries to date with a 99% on-time arrival rate.

Major clients include PepsiCo, Walmart, Kroger, Tyson Foods, and Canada's Loblaw Cos. The trucks operate in Texas, Arizona, Arkansas, and Canada, navigating up to 400 miles with dynamic routing and carrying heavy loads from distribution centers to retail stores. Co-founder and CEO Gautam Narang stated that the investment validates Gatik's position as a leader in autonomous freight.

Notable investors in this round include Qatar Investment Authority, Koch Disruptive Technologies, Millennium Management, ARK Investment Management, and Intact Private Capital, with Koch Ventures leading a previous $85 million Series B round. Industry expert Cathie Wood of ARK Investment Management called autonomous freight an "inflection point" as AI and robotics continue to converge.