Gatik Palo Alto, Calif-based, announced a new investment of $85 million in Series B funding to significantly expand North America’s first autonomous Middle Mile logistics network. The round was heavily oversubscribed and brings the total amount raised by Gatik to $114.5 million.
The round is led by new investor Koch Disruptive Technologies (KDT), existing investors Innovation Endeavours, Wittington Ventures, FM Capital, Dynamo Ventures, Trucks VC, Intact Ventures and others also participated.
Gatik will use the funding to advance its commercial-grade autonomous technology, scale its fleet of Class 3-6 multi-temperature Autonomous Box Trucks across new markets in North America, grow with existing and new customers, and substantially increase its team size.
Company: Gatik
Raised: $85.0M
Round: Series B
Funding Month: August 2021
Lead Investors: Koch Disruptive Technologies (KDT)
Additional Investors: Innovation Endeavours, Wittington Ventures, FM Capital, Dynamo Ventures, Trucks VC, Intact Ventures
Company Website: http://www.gatik.ai/
Software Category: B2B logistics
About the Company: Gatik was founded in 2017 by veterans of the autonomous technology industry and has established offices in Palo Alto and Toronto. The company’s mission is to deliver goods safely and efficiently using autonomous vehicles. With its fleet of light to medium-duty trucks, Gatik is leading the way in autonomous middle mile delivery. The company focuses on short-haul, business to business (B2B) logistics for the retail industry, enabling its customers to optimize their supply chain at affordable convenience.
Source: https://www.globenewswire.com/news-release/2021/08/31/2289058/0/en/Gatik-Raises-85-Million-in-Series-B-Funding-Led-by-Koch-Disruptive-Technologies-KDT-to-Scale-Its-Fleet-of-Autonomous-Box-Trucks-Across-North-America.html