The funding round brings the self-driving freight company’s total capital raised to about $500 million.
Autonomous trucking startup Gatik raised $200 million in its largest funding round to expand freight routes and win new customers, Bloomberg reported.
The round was led by investors including Qatar Investment Authority and Koch Disruptive Technologies, with participation from Millennium Management, ARK Invest, and Intact Private Capital. The financing brings Gatik’s total capital raised to about $500 million.
Chief Executive Officer Gautam Narang said the company will use the money to expand in regions where it already operates. Gatik runs driverless freight trucks for customers including PepsiCo, Walmart, Kroger, and Tyson Foods in the Dallas-Fort Worth area, Phoenix, and Northwest Arkansas.
Narang said the investment reflects a shift in autonomous trucking toward highway deployment and scaling proven operations. He previously said the company had signed agreements representing $600 million in revenue over five years.
