Gatik secures $200 million to expand driverless box-truck fleet after PepsiCo pact

Gatik, the Santa Clara-based autonomous-vehicle firm specializing in driverless box trucks, announced a $200 million financing round two months after finalizing a multi-year commercial agreement with PepsiCo. The round was spearheaded by Qatar Investment Authority and Koch Disruptive Technologies, with participation from Millennium Management, ARK Invest and Intact Private Capital, bringing total funding since 2019 to about $500 million.

Gatik’s niche is short-haul, middle-mile logistics, using fully autonomous trucks for fixed routes under 10 miles and for dynamic routes covering up to 400 miles. Its portfolio includes high-profile clients such as PepsiCo, Walmart, Loblaw, Kroger and Tyson Foods, with the PepsiCo partnership deploying 41 trucks to move snack products in Dallas, Phoenix and Northwest Arkansas. The company recently removed safety drivers from its commercial routes and now runs dozens of driverless trucks in varied weather conditions. CEO Gautam Narang said the new capital will accelerate hiring of engineers and operational staff and support expansion into new and existing markets, growing the workforce beyond its current 350 employees.