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Microsoft to speculate greater than $10M in Gatik

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Microsoft to speculate greater than M in Gatik

Gatik goals to automate the center mile of deliveries with its autonomous know-how. | Supply: Gatik

Microsoft Corp is in talks to spend money on Gatik, in accordance with reporting from Reuters. Microsoft plans to speculate $10 million into the autonomous trucking startup as a part of a funding spherical that will worth Gatik at greater than $700 million. 

Whereas Microsoft is in superior talks with Gatik, the phrases of the deal haven’t been finalized and will nonetheless change. 

As a part of the deal, Gatik will use Microsoft’s Azure, a cloud and edge computing platform, to develop its autonomous supply know-how. Microsoft has beforehand invested in Cruise, one other autonomous driving startup, though Cruise is growing autonomous robotaxis. Cruise additionally makes use of the Azure platform for its autonomous robotaxis. 

Gatik’s autonomous trucking platform is utilized in gentle to medium-duty vehicles to automate the center mile in deliveries, which means Gatik takes objects from micro-fulfillment facilities and darkish shops and drops them off at pick-up factors, like retail shops and distribution facilities. The corporate’s vehicles function seven days every week, 12 hours a day on routes with fastened pick-up and drop-off areas. 

In June 2022, Gatik introduced that it signed a multi-year partnership with Georgia-Pacific, a distributor of tissue, pulp and paper-based packaging, and KBX, the transportation arm for Koch Industries. As a part of the partnership, Gatik will automate among the Georgia-Pacific-KBX on-road transportation networks within the Dallas-Fort Price metroplex, delivering items throughout a community of 34 Sam’s Membership areas.

The corporate hit a brand new milestone with its partnership with Walmart in November 2021. The corporate stated it now not has a human security driver behind the wheel of two Degree 4 autonomous field vehicles working in Bentonville, Arkansas, which is the house of the retail large.

Since its founding in 2017, Gatik has raised $114.5 million in funding. Its final funding spherical, a Collection B spherical, closed in August 2021 and totaled $85 million. The Collection B spherical was led by new investor Koch Disruptive Applied sciences (KDT). Current traders Innovation Endeavours, Wittington Ventures, FM Capital, Dynamo Ventures, Vehicles VC, Intact Ventures and others additionally participated.

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