Aug. 25 at 8:43 PM
Gatik raised
$200 million in a Series D round led by Qatar Investment Authority and Koch Disruptive Technologies, with Millennium Management, ARK Invest and others participating. The funding comes as demand grows for driverless commercial freight transportation among Fortune 50 retailers, food distributors and consumer-goods companies.
The autonomous trucking company has completed 85,000 fully driverless deliveries with a 99% on-time rate and more than
$600 million in contracted revenue. Gatik operates regional, high-frequency routes between distribution centers and stores in Texas, Arizona, Arkansas and Canada.
The new funding will support fleet expansion and deployment of Gatik’s AI-based autonomous driving technology, which operates on highways and urban roads using dynamic routes. Gatik currently runs dozens of driverless trucks across North America and plans to expand to thousands in the coming years.
$ARKK