Gatik Raises More Money
Gatik just raised a big $85 million Series B funding round. While this is much smaller than other companies are raising through SPACs, IPOs, or jumbo private investments, it’s a real accomplishment.
Life has gotten pretty tough out there for small autonomous vehicle companies. Investors are skittish about backing smaller startups that will have to compete against multi-billion dollar entities.
Gatik has evidently put together a convincing story that their autonomous box trucks, focused on transportation between distribution centers, are sufficiently different from the rest of the autonomous trucking industry.
The company is currently 70 employees and plans to double in size, making it one of the few remaining autonomous vehicle startups of that size. And they have truek driverless trucks operating (albeit on only one route so far)!
Originally published at http://davidsilver.blog on September 1, 2021.