Gatik Raises $200M Following Partnership with PepsiCo for Autonomous Trucking Solutions

Gatik, an emerging player in the autonomous vehicle industry known for its self-driving box trucks, has successfully raised $200 million in funding, just two months after establishing a multi-year commercial partnership with PepsiCo.

This funding round was led by the Qatar Investment Authority and Koch Disruptive Technologies, with additional contributions from Millennium Management, ARK Invest, and Intact Private Capital. Headquartered in Santa Clara, California, Gatik has amassed nearly $500 million since it emerged from stealth mode in 2019. The company has not disclosed its current valuation.

As Gatik enters this new stage with its largest funding to date, it evolves from a startup running limited pilot programs to a company operating commercial driverless services for clients in various cities.

“These investors are committed for the long haul,” stated Gatik co-founder and CEO Gautam Narang in a recent interview. “To scale and grow as we expect in the coming years, we need financial partners who can genuinely support us.”

For Narang, scaling involves increasing the number of driverless trucks, broadening customer outreach, and expanding into new cities — ultimately aiming to extend operations beyond North America.

Gatik has carved out a unique niche in the fast-evolving and competitive autonomous vehicle market. While numerous startups and well-funded tech companies have targeted sidewalk delivery robots, robotaxis, long-haul self-driving trucks, or autonomous equipment for construction and mining, Gatik has focused on short-haul logistics.

The startup has built a fleet of driverless box trucks, manufactured by Isuzu Motors, specifically designed for food and beverage deliveries. Initially, these trucks operated on fixed routes of under 10 miles, but they have now evolved to handle dynamic routes with multiple pick-up and drop-off locations, reaching distances of up to 400 miles.

In the “middle-mile” delivery segment, Gatik has positioned itself as a significant contender, serving major clients such as Canada’s Loblaws, Kroger, and Tyson Foods. Its first major client, revealed six years ago, was Walmart.

Last year was pivotal for the company, showcasing significant technological and operational progress that enabled the removal of safety drivers from its commercial routes. Gatik now operates numerous fully driverless trucks commercially in diverse markets, capable of navigating various conditions.

“Our technology has improved remarkably over the past few years, especially with our latest generation of vehicles,” Narang noted, emphasizing that the third-generation self-driving trucks can function continuously on surface streets and highways, managing light rain and snow.

Although Gatik has not disclosed specific fleet numbers or a comprehensive client list, its largest public partnership is with PepsiCo, utilizing 41 driverless box trucks to deliver Cheetos, Doritos, and other Frito-Lay products from distribution centers to stores in Dallas, Phoenix, and Northwest Arkansas.

Focusing on the middle-mile segment has been advantageous for the Santa Clara-based startup, resulting in commercial contracts that amount to $600 million in contracted revenue, according to Narang.

This new $200 million funding will further bolster Gatik’s expansion efforts, requiring growth beyond its current workforce of 350 employees. Narang indicated plans to hire more engineers and operations staff, alongside investigating new markets or enhancing their presence in existing ones.