Total amount raised
$152.9 Millions
Latest funding date
08/01/2024
Location
Gatik has successfully attracted investment from 23 investors, including notable names like Nippon Express USA and ITOCHU Corporation. The company specializes in autonomous light and medium-duty trucks for B2B short-haul logistics, focusing on the "middle mile" of delivery.
Isuzu has also invested US$30 million in Gatik, underscoring the industry's confidence in their technology. Keep reading to explore the intricacies of Gatik's fundraising journey and the investors backing this innovative platform.
What Is Gatik?
Gatik, founded in 2017, is based in Mountain View, California. The company was established by Apeksha Kumavat, Arjun Narang, and Gautam Narang.
Specializing in autonomous technology for light and medium-duty trucks, Gatik focuses on B2B short-haul logistics. Their services include Autonomous Transportation as a Service (ATaaS).
Gatik employs between 101 and 250 people, working to optimize regional distribution networks by moving goods between distribution centers, fulfillment centers, and retail locations.
How Much Funding Has Gatik Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: June 2019
- Lead Investors: Innovation Endeavors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and commercialize autonomous technology for middle-mile logistics.
- Series A
- Amount Raised: ₹1.5B
- Date: April 2020
- Lead Investors: Muirwoods Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology for autonomous trucks.
- Series A
- Amount Raised: $25M
- Date: November 2020
- Lead Investors: Innovation Endeavors, Wittington Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the deployment of autonomous vehicles and enhance middle-mile logistics.
- Grant
- Amount Raised: CA$9M
- Date: March 2021
- Lead Investors: Government of Ontario
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of autonomous vehicle technology in Ontario.
- Series B
- Amount Raised: $85M
- Date: August 2021
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the commercialization of autonomous middle-mile logistics solutions.
- Corporate Round
- Amount Raised: $30M
- Date: May 2024
- Lead Investors: Isuzu
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the mass production of autonomous trucks.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: June 2024
- Lead Investors: ITOCHU Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance Gatik's growth and transformation in the logistics industry.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: August 2024
- Lead Investors: Nippon Express USA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen Gatik’s position in the North American logistics market.
Total Amount Raised: $144.5M
Current Valuation: Not publicly disclosed
Key Investors
- Nippon Express USA
- Details: Nippon Express USA is a subsidiary of Nippon Express Holdings, a global logistics provider established in Japan in 1937. The company has over 73,000 professionals and operates in more than 50 countries.
- Investment Focus Areas: Logistics, transportation, supply chain management.
- Notable Investments: Primarily in logistics and transportation companies.
- ITOCHU Corporation
- Details: ITOCHU Corporation is a Japanese trading company with a diverse range of business activities, including textiles, machinery, metals, minerals, energy, chemicals, food, and general products. The company has extensive international operations.
- Investment Focus Areas: Trading, logistics, technology, various industrial sectors.
- Notable Investments: Diverse portfolio including technology and logistics companies.
- Isuzu
- Details: Isuzu Motors is a leading manufacturer of commercial vehicles and diesel engines. The company is known for its durable and reliable trucks and engines.
- Investment Focus Areas: Automotive, commercial vehicles, transportation.
- Notable Investments: Investments in automotive and commercial vehicle sectors.
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies is a subsidiary of Koch Industries, focusing on investing in innovative and disruptive technologies. The company aims to transform industries through strategic investments.
- Investment Focus Areas: Technology, industrial sectors, innovative solutions.
- Notable Investments: Investments in disruptive technologies across various sectors.
- Government of Ontario
- Details: The Government of Ontario is the provincial government of Ontario, Canada. It focuses on economic development, technology, and innovation within the province.
- Investment Focus Areas: Economic development, technology, innovation.
- Notable Investments: Investments in technology and innovation within Ontario.
What's Next for Gatik?
Gatik's future looks promising as it continues to expand its autonomous technology across North America. The strategic investment from Nippon Express Holdings aims to bolster Gatik's position in the middle-mile logistics segment, addressing critical challenges like driver shortages and supply chain inefficiencies. This expansion presents a significant opportunity for Gatik to solidify its leadership in the logistics industry.
With the growing demand for faster deliveries and the rise of e-commerce, Gatik is well-positioned to attract further investments. Partnerships with industry leaders like Isuzu Motors and ITOCHU suggest a continued interest from global partners, paving the way for future fundraising opportunities. These investments will likely support the rapid commercialization of Gatik's autonomous technology and its expansion into new markets.
However, Gatik may face challenges such as regulatory hurdles and unpredictable driving conditions. Ensuring safety and compliance in autonomous vehicle operations will be crucial. Despite these challenges, Gatik's strategic partnerships and focus on innovation position it well for future growth and success in the autonomous logistics space.
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