Gatik Named to Forbes AI 50 List of Most Promising Artificial Intelligence Companies of 2021
PALO ALTO, Calif. – April 26, 2021 – Gatik, the market leader in automating on-road transportation networks for B2B middle-mile logistics, announced today that it has been named to the Forbes AI 50 list which highlights private companies using artificial intelligence in meaningful, business-oriented ways to create innovative services and solve complex technology problems.
“Operating on fixed, repeatable routes is the most effective way to deploy autonomous
vehicles safely and at scale,” said Gautam Narang, Co-Founder, and CEO of Gatik. “At Gatik, we take a radically divergent hybrid approach towards the system architecture, implementation & validation of our Autonomous Box Trucks. We decompose the massive, monolithic Deep Neural Networks into micro-models whose intended functionality is restricted to a very specific explainable task, and build rule-based fallback & validation systems around them. Forbes’ recognition of our solution validates the strength of this approach – we’re honored to be included on this prestigious list and be recognized as a technology innovator.”
Forbes, in partnership with Sequoia Capital, evaluated hundreds of companies serving
a range of industries to recognize 50 private, U.S.-based companies for their innovative use of artificial intelligence. Gatik was selected for its leadership in using AI and machine learning to establish the first autonomous Middle Mile logistics network in North America, based on factors including technology, business model, growth, customers, revenue history, and valuation.
Gatik’s technology focuses on 3 technical pillars to maximize safety and efficiency for
short-haul logistics: using exponentially less data for training and validation by overfitting the modular stack for known routes; using a learning-first but deterministic approach, through hyper-optimization of micro-models using rich priors from known routes; and ensuring redundancies at system and component level. Combined with the company’s operational expertise, this commercial grade autonomous solution enables Gatik’s customers to reduce costs, maintain capacity and keep delivery times short.
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.
Gatik and the Gatik logo are trademarks of Gatik AI Inc. All other trademarks, service marks, and company names mentioned herein are the property of their respective owners.
Media Contact:
Aarthi Sivaraman
aarthi.sivaraman@gatik.ai
