Gatik announced it has expanded customer deployments in Texas, opened a new autonomous trucking facility in Fort Worth, and invested $85 million in Series B funding, according to the company's press release.
The facility in Forth Worth will serve as a place for Gatik’s operations in Texas. It will help customers take advantage of reduced supply chain costs.
The expansion in Texas is expected to create over 500 new jobs by 2025.
“Texas continues to thrive as a place of unlimited economic opportunity and we are proud to welcome a cutting-edge company like Gatik to Fort Worth,” said Texas Governor Greg Abbott. “This facility will bring hundreds of jobs to the region and will further establish the Lone Star State as a leader in innovation. Gatik’s investment is a testament to Texas’ strong economic climate, robust infrastructure, and our unrivaled workforce. Thank you to Gatik and AllianceTexas Mobility Innovation Zone for their partnership to bring this facility to Fort Worth.”
Gatik will now after its fourth market in North America, with other locations in Arkansas, Louisiana, and Ontario, Canada.
“Dallas-Fort Worth is internationally recognized as one of the world’s leading logistics centers in terms of innovation, sophisticated infrastructure and a highly-skilled workforce,” said Gautam Narang, CEO and co-founder, Gatik. “Combined with a dense customer base, a progressive and well-structured regulatory environment, and an ideal climate; bringing the advantages of our Middle Mile solution to customers in the Texas ecosystem was a very natural next step for us.”
Gatik also invested $85 million in Series B funding to expand North America’s first autonomous Middle Mile logistics network.
This brings the total raised by Gatik to $114.5 million.
“The logistics industry is experiencing unprecedented disruption driven by the explosive growth of ecommerce, and demand for more efficient goods movement,” said Chase Koch, president of Koch Disruptive Technologies. “Nowhere is this more pronounced than on the Middle Mile. Gatik’s transformational autonomous technology and world-class team are defining the standard in B2B short-haul logistics by addressing the most prominent issues facing today’s supply chain. We believe Gatik will be the first to commercialize autonomous technology at scale for the North American medium-duty trucking market.”
The funding will help advance Gatik’s autonomous technology and increase its team size. It will also scale its fleet of Class 3-6 multi-temperature Autonomous Box Trucks across new markets.
“With our exclusive focus on structured autonomy, we have unlocked lower costs, shorter delivery times, and sustainable, reliable capacity for our customers today,” said Narang. “Our long-term partnerships with the world’s largest retailers, strategic relationships with OEMs and fleet servicing & maintenance partners have allowed us to address critical supply chain challenges and build an industry-defining business. With this financing, we are ideally positioned to commercialize our solution at scale.”