Gatik AI Inc, the California-based short-haul autonomous trucking provider with high-profile Arkansas customers, said Tuesday that it had raised $200 million in a new funding series. Gatik said it plans to use the cash infusion to grow in regions where its self-driving trucks already run, while also courting new business. Gautam Narang, chief executive officer and co-founder, said the investment was led by leading financial institutions, which is a validation of Gatik's commercial leadership in autonomous freight. "This round gives us the capital to scale with speed and discipline, serve the world's largest companies, and define the future of autonomous freight," he said in a news release. Key investors during the financing round included the Qatar Investment Authority and Koch Disruptive Technologies. Gatik currently operates its autonomous trucks in Arkansas, and has ongoing partnerships with Walmart Inc. and Tyson Foods Inc. Other major company partnerships include PepsiCo and Kroger Co. A Gatik spokesperson said the company is unable to comment on the specifics of its ongoing partnerships. The partnership with Walmart Inc. began in 2021, with Gatik trucks operating as middle-mile routes, which are routes between warehouses or from warehouses to stores. The partnership was also the first to have removed a safety driver, a human driver monitoring performance in the vehicle, in the world at the time. Walmart said the partnership helped to fill online orders faster, while being a safe and sustainable solution in 2021. Tyson Foods began testing Gatik's trucks in 2023, with short-haul routes between Springdale and Rogers. Again, the routes connected company distribution centers and storage facilities. For Tyson foods, the partnership was brought about as the company struggled to keep drivers during a national truck driver shortage. The company said it is focused on expanding its fleet and getting more trucks on the road
Walmart, Tyson Foods, <b>autonomous</b> trucking partner announces $200M in funding
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