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Funding
Geographic expansion
Gatik raises USD 85 million in Series B funding; expands operations to Texas
Truck Industry Tech
Aug 30, 2021
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Truck Industry Tech

Truck Industry Tech

Aug 30, 2021

Gatik raises USD 85 million in Series B funding; expands operations to Texas

Funding
Geographic expansion

  • Gatik, an autonomous truck developer for middle-mile delivery, has raised USD 85 million in a Series B round led by Koch Disruptive Technologies, with participation from Innovation Endeavors, Wittington Ventures, FM Capital, Dynamo Ventures, Trucks VC, and Intact Ventures among others. This round brings the company's total funds raised to USD 114.5 million.

  • The company intends to utilize the funds to further develop its autonomous technology, expand its operations across North America, increase headcount to around 150 over the next 6–9 months (from the current 70 employees), and expand the truck fleet with new and existing customers.

  • Today, the company also announced that it has expanded operations to Texas and opened a new autonomous trucking facility in Dallas-Fort Worth. Gatik already carries freight for several unnamed customers in the state. The company aims to establish long-term operations in Texas, generating 500+ jobs including operational, technical, and business roles by 2025.

  • The expansion to Texas marks its fourth market of operations, following pilot programs in Arkansas and Louisiana in the US (in partnership with Walmart) and Ontario, Canada (in partnership with food retailer Loblaw).

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