QIA leads $200 mn Series D funding round in US firm Gatik
QNADoha The Qatar Investment Authority (QIA) on Tuesday announced that it has led a USD 200 million Series D funding round for US-based Gatik, alongside Koch Disruptive Technologie...
Qatar Investment Authority (QIA) led a $200 million Series D funding round for US-based Gatik, alongside other investors, according to a statement. The investment underscores QIA's ongoing commitment to next-generation solutions and technologies, particularly in the autonomous freight sector, which is revolutionizing global supply chains and logistics.
QIA Director of Industrial Investments, Abdullah Al Kuwari, highlighted the transformative impact of autonomous freight, emphasizing QIA's dedication to supporting pioneering companies driving the future of freight infrastructure. Gatik, a leader in autonomous freight, operates driverless trucks within active networks to transport goods across Texas, Arizona, Arkansas, and Ontario, Canada.
The fresh funding will bolster Gatik's growth, enabling it to meet increasing demand from Fortune 50 retailers, grocery stores, and consumer packaged goods companies seeking to improve freight capacity, reliability, and scalability. Gatik recently solidified its position with an expanded partnership with PepsiCo and the development of a highly advanced autonomous freight network, boasting $600 million in contracted revenue and over 100,000 orders delivered using fully autonomous systems.
Written by urgent.news from Qatar Tribune Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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