The Qatar Investment Authority announced today that it has led a Series D financing round for Gatik, worth $200 million, along with Koch Disruptive Technologies (KDT), with the participation of ARK Invest, Millennium Management Global Investment, Intact Private Capital, Arca Continental, and a number of other investors.
A statement issued by the agency said that the investment reflects its continued focus on supporting both next-generation solutions and technology and companies characterized by strong commercial momentum and important long-term growth opportunities, in light of the transformation that self-driving shipping is bringing about in both the global supply chain and logistics services sectors.
In this context, Mr. Abdullah Al-Kuwari, Director of the Industrial Investments Department at the Qatar Investment Authority, said: “Self-driving shipping is transforming the global logistics sector by making it more efficient and reliable. In this context, the Qatar Investment Authority is committed to supporting next-generation solution providers who are shaping the future of shipping infrastructure, such as Gatik.”
Gatik, a specialist in self-driving shipping, operates fully driverless trucks within customers’ active networks to transport goods between distribution centers and stores throughout Texas, Arizona, Arkansas and Ontario in Canada.
The new financing will support Gatik’s continued growth, including meeting growing demand from Fortune 50 retailers, food retailers, and consumer packaged products (CPG) companies, all of which are seeking to enhance shipping capacity within their existing supply chains and make them more reliable, flexible, and scalable.
Gatik recently announced the expansion of its partnership with PepsiCo and the building of one of the most commercially advanced self-driving shipping ecosystems in the industry, with contracted revenues exceeding $600 million and more than 100,000 orders delivered using fully self-driving shipping.