Gatik raises $85 million

Palo Alto-based autonomous vehicle company Gatik closed an $85 million Series B funding round led by Koch Disruptive Technologies (KDT), bringing its total funding to $114.5 million.

Founded in 2017 and a team of ~44, the company develops technology for deploying autonomous vehicles for short-haul logistics. The news coincides with Gatik making public its operations in Texas; marking the fourth market in North America in which the company has deployed its fleet of Autonomous Box Trucks for retail customers in addition to Arkansas, Louisiana, and Ontario, Canada.

The news follows the startup’s launch of its electric Autonomous Box Trucks with Walmart in Louisiana, and a partnership with Isuzu to implement medium-duty autonomous trucks.

“With our exclusive focus on structured autonomy, we have unlocked lower costs, shorter delivery times, and sustainable, reliable capacity for our customers today. Our long-term partnerships with the world’s largest retailers, strategic relationships with OEMs and fleet servicing & maintenance partners have allowed us to address critical supply chain challenges and build an industry-defining business. With this financing, we are ideally positioned to commercialize our solution at scale.” – Gautam Narang, CEO and co-founder of Gatik.

Bottom Line: Further validation that commercialization of autonomous vehicles is taking place in the B2B short-haul logistics space.