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Robot Truck Startup Gatik Raises $85 Million In Koch-Led Funding Round

Alan Ohnsman of Forbes reports the startup Gatik has raised $85 million in Koch-led funding round.

The C3 Take
  • Gatik is a Silicon Valley startup that creates an autonomous fixed route robotic delivery system.
  • The company has already partnered with Walmart in Arkansas and Louisiana and Loblaw Supermarkets in Toronto.
  • Gatik expects to expand its current vehicle fleet to 100 and is currently working on creating a line of autonomous commercial vehicles by 2023.
  • This is a great example of how free-markets can infuse capital to accelerate innovation that is good for the economy and the environment.

“With the Series B round Gatik has raised $114.5 million since its founding in 2017 and the new financing ‘positions us to scale nicely from here,’ says cofounder and CEO Gautam Narang. ‘The way we look at the business, the technology, the companies we work with, we have all the key components in place.'”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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