In a challenging fundraising environment for technology startups, reports suggest that Microsoft is rumored to be close to investing in Gatik, a middle-mile autonomous trucking company.
privately owned Gatik, a middle-mile autonomous trucking software developer, last raised $85 million in a Series B round in August 2021. Gatik’s driverless Class 3-6 box trucks run revenue-generating routes in Texas, Louisiana, Arkansas, and Ontario, Canada.
The partnership would adhere to Gatik’s business model.
Reuters reported Wednesday that Microsoft is rumored to invest $10 million in a financing round valued at $700 million for Gatik, based on information from two anonymous sources familiar with the discussions. Neither Microsoft nor Gatik responded. Microsoft will invest in Cruise, a robotaxis developer owned by General Motors Co., in 2021.
According to Reuters, using Microsoft’s Azure cloud and edge computing platform, Gatik will develop autonomous delivery technology for trucks.
This collaboration would be consistent with Gatik’s asset-light approach to its subscription-based autonomy-as-a-service business model. Cummins Inc., Ryder System Inc., and Goodyear Tire & Rubber are other partners. The latter two invested in Gatik through their venture arms.
Proof of concept for Goodyear SightLine
Gatik announced that it has demonstrated in a proof-of-concept test that intelligent tires powered by Goodyear SightLine technology can accurately estimate tire-road friction potential and provide real-time data to Gatik’s automated driving system. with out changing the text Gatik will develop autonomous delivery technology for trucks.
The breakthrough broadens a tire’s capabilities by bringing vehicle safety and performance data to the operational design domain of Gatik’s short-haul market. Goodyear Ventures invested an undisclosed amount in Gatik as part of the collaboration in September 2021.
Microsoft is rumored to be partnering with Goodyear to bring advanced technology to the automotive industry. ‘The tire is the only part of the vehicle that touches the ground, and this new level of data sophistication can communicate vital information to the vehicle, enhancing safety and performance,’ Goodyear’s senior vice president of global operations and chief technology officer, Chris Helsel, said in a news release. Gatik will develop autonomous delivery technology for trucks.
The tire is the only part of the vehicle that touches the ground, and this new level of data sophistication can communicate vital information to the vehicle, enhancing safety and performance,” Goodyear’s senior vice president of global operations and chief technology officer, Chris Helsel, said in a news release.
Goodyear expects to make SightLine technology available on some original equipment vehicles as early as this year.
Creating autonomy in the middle mile
In June 2021, Kodiak Robotics, a developer of Class 8 autonomous trucks, announced a similar collaboration with Bridgestone Americas. In addition, Bridgestone made an undisclosed investment in Kodiak.
Gautam and Arjun Narang, as well as Apeksha Kumavat, founded Gatik in 2017. It is currently the only major player in middle-mile business-to-business autonomous logistics. Gatik counts ten Fortune 500 companies among its clients. Customers include Walmart Inc., KBX, Pitney-Bowes, and Canada’s largest grocery chain, Loblaw.
Last-mile delivery is the focus of startups such as Nuro and GM’s BrightDrop. Daimler Truck North America, Volvo Group, and Paccar Inc. collaborate on developing commercialized long-haul driverless trucks with Torc Robotics, Alphabet’s Waymo, and Aurora Innovation.
