Qatar Investment Authority (QIA) has co-led a $200 million Series D financing for autonomous freight company Gatik alongside Koch Disruptive Technologies (KDT).
The financing also included participation from ARK Invest, Millennium Management Global Investment, Intact Private Capital, Arca Continental and other investors.
Gatik operates fully driverless trucks within live customer networks, transporting goods between distribution centres and stores across Texas, Arizona, Arkansas and Ontario, Canada.
The company said the new financing will support its continued growth as it responds to demand from retailers, grocers and consumer packaged goods companies seeking additional freight capacity within their existing supply chains.
Gatik has recently expanded its partnership with PepsiCo. According to the announcement, the company has more than $600 million in contracted revenue and has completed more than 100,000 fully driverless orders.
Abdulla Al-Kuwari, Head of Industrials at QIA, said: “Autonomous freight is transforming the global logistics industry, making it more efficient and reliable.”
He added that QIA is committed to supporting next-generation solutions providers such as Gatik that are developing freight infrastructure.
QIA said the investment reflects its continued focus on next-generation technology and businesses demonstrating commercial momentum and long-term growth potential.
About Gatik
Gatik operates autonomous freight services for retailers and grocers, moving goods between distribution centres and stores in the United States and Canada.
According to the company information supplied with the announcement, Gatik has more than $600 million in contracted revenue.
Based on the announcement of Gatik's $200 million Series D financing and information supplied with that announcement.