Doha-Mountain View, August 25 (QNA) - The Qatar Investment Authority (QIA) on Tuesday announced that it has led a USD 200 million Series D funding round for US-based Gatik, alongside Koch Disruptive Technologies (KDT), with participation from ARK Invest, Millennium Management Global Investment, Intact Private Capital, Arca Continental, and a number of other investors.
In a statement, QIA said the investment reflects its continued focus on supporting next-generation solutions and technologies, as well as companies demonstrating strong commercial momentum and significant long-term growth opportunities, amid the transformation that autonomous freight is bringing to the global supply chain and logistics sectors.
In this context, Director of Industrial Investments at QIA Abdullah Al Kuwari said autonomous freight is transforming the global logistics sector by making it more efficient and reliable. In this regard, QIA is committed to supporting next-generation solution providers that are shaping the future of freight infrastructure, such as Gatik.
Gatik, a company specializing in autonomous freight, operates fully driverless trucks within active customer networks to transport goods between distribution centers and stores across Texas, Arizona, Arkansas, and Ontario, Canada.
The new funding will support Gatik's continued growth, including meeting rising demand from Fortune 50 retailers, grocery stores, and consumer packaged goods (CPG) companies, all of which are seeking to enhance freight capacity across their existing supply chains and make them more reliable, resilient, and scalable.
Gatik recently announced the expansion of its partnership with PepsiCo and the development of one of the industry's most commercially advanced autonomous freight networks, with contracted revenue exceeding USD 600 million and more than 100,000 orders delivered using fully autonomous freight. (QNA)