US autonomous trucking company Gatik has raised $200 million in Series D funding.
Qatar Investment Authority and Koch Disruptive Technologies co-led the round. Millennium Management, ARK Invest, Intact Private Capital and other investors also participated.
Gatik will use the funding to expand its driverless freight operations. The company also plans to invest in its technology, infrastructure and workforce.
Gatik focuses on regional freight routes between distribution centers and stores. Its trucks operate across highways and surface streets in active customer networks.
The company currently operates in Texas, Arizona, Arkansas and Ontario, Canada. It serves retailers, grocery companies and consumer packaged goods businesses.
Gatik says it has more than $600 million in contracted revenue. It has also completed 85,000 fully driverless orders and reports a 99% on-time delivery rate.
The company is targeting high-frequency freight routes rather than long-haul trucking. These routes connect distribution centers with retail locations and repeat throughout the day.
That model gives Gatik a narrower operating environment for its autonomous trucks. It also lets customers add freight capacity across established supply chains.
Gatik recently expanded its partnership with PepsiCo. The deal adds to a growing list of commercial deployments for the autonomous trucking company.
The latest funding will help Gatik increase the number of trucks and routes it operates. The company currently has dozens of driverless trucks on the road and plans to scale into the thousands over the coming years.
The investment also highlights growing interest in autonomous freight from major institutional investors.
For QIA, the deal adds another investment in technology that combines artificial intelligence, robotics and logistics. The sovereign wealth fund said autonomous freight can make global logistics more efficient and reliable.
Koch Disruptive Technologies has backed Gatik since 2021. Its latest investment reflects its confidence in the company’s move from autonomous trucking trials to commercial operations.
Gatik now has fresh capital to expand its driverless freight network across North America.
The bigger test will be whether it can turn its existing commercial deployments into a much larger autonomous logistics operation.
