Since Gatik began commercial operations in 2019, we have been moving goods safely and efficiently for some of the largest retailers, including Walmart and Loblaw, across North America on the middle mile: from micro-fulfilment centers and dark stores to retail locations and other convenient pick-up points.
Our autonomous box trucks operate round the clock, 7 days a week. To keep our fleet running safely and efficiently we need the right partners — partners with a nationwide reach.
That’s why we’ve teamed up with Ryder: the global leader in supply chain, dedicated transportation, and fleet management solutions.
Under the partnership, Gatik will lease from Ryder a fleet of medium-duty, multi-temperature box trucks. Gatik will integrate its commercial-grade autonomous driving technology into the leased fleet, enabling Gatik to provide its Autonomous Delivery as a Service (ADaaS) model to new and existing customers. In addition to providing the leased vehicles, Ryder’s sophisticated national servicing infrastructure ensures we can serve our customers across the continent, while their team of world-class technicians services and maintains the trucks for maximum uptime and enhanced vehicle performance. This includes calibration of Gatik’s autonomous vehicle sensors, and undertaking the necessary pre- and post-trip inspections.
It’s a groundbreaking new model for the industry where Gatik owns customer relationships while remaining asset light: allowing us to scale safely, quickly and efficiently.
In August this year, we announced our latest funding totaling $85 million. This includes an investment from Ryder — their first in an autonomous trucking company. We see this as validation not only of our technology, but our approach to commercializing autonomous delivery at scale together. Acute driver shortages, rising transportation costs and severe inefficiencies in the supply chain are posing significant challenges to North America’s major retailers. Our partnership with Ryder will help us to address these pain points and continue to provide the standard our customers expect from us — at scale.
About Gatik
Gatik is in the business of autonomous freight. The company operates driverless trucks daily for Fortune 50 retailers, grocers and CPG companies, moving freight between distribution centers and stores across Texas, Arizona, Arkansas, and Canada. Gatik has a strong safety record across its operations and is powered by the Gatik Driver™, a scalable, interpretable AI system purpose-built to enable safe, consistent, and high-frequency freight movement. For more information, visit gatik.ai.
Forward-Looking Statements
This news release contains “forward-looking statements” that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or Gatik’s future financial or operating performance. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets and trends we expect to affect our business. These statements often include words such as “contracted,” “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause Gatik’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, including Gatik’s ability to execute on its growth plans, any failure to comply with laws, rules, regulations or business practices that Gatik may become subject to as a result of any expansion of its business resulting from the financing, including Gatik’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized contracted revenue, continue to develop its existing customer base, design and deploy an expanded fleet of trucks on behalf of customers, and diversify and expand into the market for autonomous logistics solutions. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by law, Gatik disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
The securities described herein have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and were offered and sold in a transaction exempt from registration under the Securities Act. The securities may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
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Media Contact:
Aarthi Sivaraman
aarthi.sivaraman@gatik.ai
