QIA leads USD 200 million series D funding round for US company Gatik

The Qatar Investment Authority (QIA) spearheaded a significant USD 200 million Series D funding round for US-based autonomous freight company Gatik, alongside investment firm Koch Disruptive Technologies (KDT). The round saw participation from notable investors including ARK Invest, Millennium Management Global Investment, Intact Private Capital, Arca Continental, and several others.

QIA's Director of Industrial Investments, Abdullah Al Kuwari, highlighted the company's strategic focus on supporting cutting-edge solutions and technologies in response to the autonomous freight revolution in global supply chains. He emphasized that QIA aims to bolster next-generation providers driving freight infrastructure innovation.

Gatik specializes in driverless truck operations within active customer networks, transporting goods between distribution centers and retail locations across Texas, Arizona, Arkansas, and Ontario, Canada. The infusion of capital will fuel Gatik's expansion, aligning with the growing demand from Fortune 50 retailers, grocery chains, and consumer packaged goods companies. These entities are leveraging Gatik's autonomous freight capabilities to augment their supply chain capacity, reliability, resilience, and scalability.

A noteworthy highlight of Gatik's progress includes its partnership expansion with PepsiCo and the establishment of one of the most advanced autonomous freight networks in the industry. This network boasts a contracted revenue exceeding USD 600 million and has facilitated over 100,000 deliveries using fully autonomous trucks.