Self-driving truck startup Gatik raises $200M following PepsiCo deal
Gatik, the autonomous vehicle startup known for its self-driving box trucks, has raised $200 million just two months after striking a multi-year commercial agreement with PepsiCo. The round was led by Qatar Investment Authority and Koch Disruptive Technologies, with participation from Millennium Management, ARK Invest, and Intact Private Capital.
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Key Facts
- Fact 1: Gatik, the autonomous vehicle startup known for its self-driving box trucks, has raised $200 million just two months after striking a multi-year commercial agreement with PepsiCo.
- Fact 2: The Santa Clara, California-based company has raised about $500 million since it came out of stealth in 2019.
- Fact 3: The startup built a fleet of driverless box trucks that could be used to deliver food and beverages for suppliers — starting with fixed-route trips that were less than 10 miles, and growing to dynamic routes with dozens of pick-up and drop-off locations that cover up to 400 miles.
- Fact 4: But its largest public partnership is with PepsiCo, in which 41 driverless box trucks shuttle Cheetos, Doritos, and other Frito-Lay products from distribution centers to stores in Dallas, Phoenix and Northwest Arkansas.
Gatik, the autonomous vehicle startup known for its self-driving box trucks, has raised $200 million just two months after striking a multi-year commercial agreement with PepsiCo. The round was led by Qatar Investment Authority and Koch Disruptive Technologies, with participation from Millennium Management, ARK Invest, and Intact Private Capital.
The Santa Clara, California-based company has raised about $500 million since it came out of stealth in 2019. The company didn’t disclose its valuation. The funding, the company’s largest to date, marks a new phase for Gatik as it evolves from a startup with a few pilot programs into a company that runs commercial driverless operations with multiple commercial customers across several cities.
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Original source: TechCrunch
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