In an increasingly on-demand economy, urban logistics have become the most expensive part of a business’ supply chain, Gatik, a Palo Alto-based startup deploying autonomous vehicles for business to business (B2B) short-haul logistics, has come out of stealth with Walmart as a partner.
The company brings delivery and logistics into the future with Level 4 autonomous light commercial trucks and vans for B2B short-haul logistics. While the majority of autonomous innovation is occurring in passenger transportation, Gatik aims meeting a critical need in the market, serving a variety of use-cases including:
• Third-party logistics (3PL) companies
• Consumer goods distributors
• Food and beverage distributors
• Medical and pharmaceutical distributors
• Auto parts distributors
Last year, the company raised a $4.5 million seed round led by Innovation Endeavors that has led to the development of Gatik’s technology and secured launches of additional commercial services this year. Additional investors of the company’s seed round included Trucks Venture Capital; Dynamo Venture Capital; Fontinalis Partners; and AngelPad.
The company also claims to cut operation costs up to 50 percent for businesses while improving safety, increasing efficiency, and reducing road congestion and emissions.
Source: Press Release