PALO ALTO, Calif., Aug. 31, 2021 (GLOBE NEWSWIRE) -- Gatik today announced it has expanded customer deployments in Texas and opened a new autonomous trucking facility in Fort Worth. The new facility serves as a hub for Gatik’s operations in Texas, enabling new and existing customers to take advantage of reduced supply chain costs, operational efficiencies and shorter delivery times on the Middle Mile. Gatik also announced today that it has raised $85 million in Series B funding, led by Koch Disruptive Technologies (KDT), to scale its fleet of Class 3-6 Autonomous Box Trucks across new markets in North America.
Gatik is establishing a long-term presence in Texas. The company’s operations are anticipated to create over 500 new jobs by 2025, including operational, technical and business roles. Gatik’s medium duty trucks operate over twenty hours a day, seven days a week in Texas’ high-density market, which is ideally suited for goods movement in a multi-tenancy capacity. This enables Gatik to increase vehicle utilization and further maximize profit margins and supply chain efficiency for multiple customers. To support its expansion in the state, Gatik has partnered with the AllianceTexas Mobility Innovation Zone (MIZ).
Gatik’s expansion to Texas signifies the fourth market in North America in which the company has deployed its fleet of Autonomous Box Trucks for retail customers, following the success of its operations in Arkansas and Louisiana with Walmart, and Ontario, Canada with Loblaw Companies Limited. In response to intensifying customer needs driven by an unprecedented rise in e-commerce, Gatik has deployed 20 foot and 26 foot multi-temperature Autonomous Box Trucks to facilitate real-time delivery of goods safely and sustainably.
“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.”
“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 is the perfect partner for Hillwood in our efforts to accelerate emerging mobility technologies within the MIZ,” said Ross Perot, Jr., chairman of Hillwood. “As Gatik leads the way in autonomous middle mile delivery, their commitment to the MIZ will continue to position AllianceTexas as a global focal point in the commercialization of budding logistics solutions.”
“Gatik’s expansion into Texas comes at a time when demand for autonomous Middle Mile delivery has surpassed even the most confident predictions,” added Narang. “Rising costs, unreliable service levels and an increasingly pronounced driver shortage within traditional logistics networks have spurred overwhelming demand for Gatik’s autonomous technology.”
About Gatik
Gatik, the leader in autonomous Middle Mile logistics, delivers goods safely and efficiently using its fleet of light and medium duty trucks. The company focuses on short-haul, B2B logistics for Fortune 500 retailers such as Walmart and Loblaw. Gatik’s fleet of Class 3-6 Autonomous Box Trucks are live for customers in multiple markets including Arkansas, Louisiana, Texas and Ontario. Founded in 2017 by veterans of the autonomous technology industry, the company has offices in Palo Alto and Toronto. Gatik was recognized on the 2021 Forbes AI 50 list and as a World Economic Forum Technology Pioneer.
About the AllianceTexas Mobility Innovation Zone
The AllianceTexas Mobility Innovation Zone (MIZ) is a unique landscape built on collaboration and opportunity. That combination works to connect people, places and ideas that push innovation in surface and air mobility forward. By leveraging its one-of-a-kind infrastructure, the MIZ offers mobility visionaries full access to an unparalleled ecosystem, resources and partnerships essential to comprehensively test, scale, and commercialize the latest technologies. AllianceTexas itself is an unparalleled 27,000-acre regional success story and has transformed the North Texas economy by connecting it to global industry. Hillwood’s AllianceTexas development is anchored by the world’s first dedicated industrial airport, Fort Worth Alliance Airport, and hosts one of the nation’s premier intermodal hubs. AllianceTexas is also home to more than 525 companies which have built more than 50 million square feet and created over 62,000 jobs. For more information, please visit https://www.alliancetexasmiz.com/ and https://www.alliancetexas.com.
Media Contacts
Richard Steiner, Gatik
richard@gatik.ai
416-836-9185
Susan Donahue, Skyya PR
susan.donahue@skyya.com
646-454-9378
Allison Chvojan, Cooksey Communications
allison@cookseypr.com
214-769-2671
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f1dff6ec-43bb-4084-bfec-b2c18e65e58a
https://www.globenewswire.com/NewsRoom/AttachmentNg/7af73586-e29d-48c6-8fc2-4a272a945146
https://www.globenewswire.com/NewsRoom/AttachmentNg/35a4d2c3-d18f-4f54-9c2b-50ebe2063835
https://www.globenewswire.com/NewsRoom/AttachmentNg/068479f8-5616-4fcc-8fc1-49f0ea96f0dd
https://www.globenewswire.com/NewsRoom/AttachmentNg/00df5afc-987c-421f-a0ee-05c1ee7fc47d
https://www.globenewswire.com/NewsRoom/AttachmentNg/d04c0e59-a8f6-41c1-b953-2976103e3230
