Business & Finance
Autonomous truck startup Gatik raises $200 million for middle-mile expansion
The funding follows a major commercial partnership with PepsiCo as the company expands its driverless delivery fleet.
The short version
- Autonomous vehicle startup Gatik secured $200 million in a new funding round led by Qatar Investment Authority and Koch Disruptive Technologies.
- The investment comes two months after Gatik entered a multi-year commercial deal with PepsiCo to deliver products across select U.S. markets.
- Gatik plans to use the capital to expand its workforce beyond 350 employees and scale its driverless middle-mile delivery operations.
Key facts
- Gatik raised $200 million in a round led by Qatar Investment Authority and Koch Disruptive Technologies, with additional participation from Millennium Management, ARK Invest, and Intact Private Capital.[TechCrunch]
- The company has raised approximately $500 million since exiting stealth in 2019.[TechCrunch]
- Gatik claims to have $600 million in contracted commercial revenue.[TechCrunch]
- Gatik's partnership with PepsiCo involves 41 driverless box trucks delivering goods across Dallas, Phoenix, and Northwest Arkansas.[TechCrunch]
What remains uncertain
- Gatik did not disclose its company valuation following the $200 million funding round.[TechCrunch]
- The total size of Gatik's driverless fleet and its full active customer list remain unconfirmed by the company.[TechCrunch]