Ryder Invests in Gatik and Partners to Establish North American Autonomous Delivery Network for B2B Short-Haul Logistics
MIAMI and MOUNTAIN VIEW, Calif. – October 19, 2021 – Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, and Gatik, a leader in automating on-road transportation for short-haul, middle-mile logistics, announce a multi-year partnership designed to establish an autonomous logistics network for Gatik’s customers in the U.S. and Canada.
Gatik’s latest funding round totaling $85 million includes an investment from Ryder’s corporate venture capital fund RyderVentures, which aims to invest in and partner with early-stage companies that are developing new technologies and business models that deliver advancements and automation in the logistics and transportation industries. The funding represents RyderVentures’ first investment in an autonomous trucking company.
Through the broader partnership, Gatik will lease from Ryder a fleet of medium-duty,
multi-temperature box trucks designed for transporting goods to retail locations from micro-fulfillment centers or dark stores—distribution centers that cater exclusively to e-commerce. 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 its new and existing customers. In addition to providing the leased vehicles, Ryder will service
and maintain the trucks, including calibration of autonomous vehicle sensors and the necessary pre- and post-trip inspections.
Going forward, Ryder and Gatik will explore opportunities for Ryder to manage the logistics operations of the autonomous fleet as well, allowing Gatik to focus on its unique, end-to-end ADaaS business model and manage long-standing relationships with its customer base.
“The combination of maintaining direct relationships with customers while being asset-light has never been achieved in the autonomous trucking industry before,” said Gautam Narang, CEO and co-founder, Gatik. “This partnership enables us to benefit from Ryder’s world-class expertise in commercial vehicle servicing and maintenance, and leverage Ryder’s North American infrastructure to expand our fleet to multiple markets quickly. Ryder has consistently demonstrated commitment to innovation and serving their customers’ needs – core principles
that resonated deeply with us.”
The goal of the partnership is to expand quickly across the U.S. and Canada, with the initial focus on the Dallas-Fort Worth area.
“One of our focus areas, not only for RyderVentures but for Ryder as a company, is on
autonomous trucking technology. It’s on track to solve a host of industry pain points. Think about ever-escalating consumer demands combined with capacity constraints, driver shortages, and regulatory and safety pressures,” says Karen Jones, chief marketing officer and head of new product development for Ryder. “Gatik’s commitment to safety, focus on efficiency and affordability, and unique approach to structured autonomy make it a leader in autonomous
middle-mile delivery—and a great partner for Ryder.”
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.
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Media Contact:
Aarthi Sivaraman
aarthi.sivaraman@gatik.ai
