Microsoft intends to spend more than 10 million USD in a fundraising round that values Gatik at more than 700 million USD. As part of the agreement, Gatik will create autonomous delivery technologies for trucks using Microsoft's cloud and edge computing platform Azure. Company Microsoft, like other major technology businesses, has lately invested in self-driving technologies. They invested 30 billion USD in GM-owned Cruise, which focuses on robotaxis, in January 2021. Cruise intends to leverage Azure to scale up its commercial autonomous car solutions, competing with Alphabet's Waymo and Amazon's Zoox.

Gautam Narang and Arjun Narang started Gatik in 2017 to focus on middle-mile, business-to-business logistics for the retail market. Since 2021, it has operated completely autonomous commercial delivery services in Arkansas and Ontario, Canada, in collaboration with Walmart and Loblaw Companies Ltd. It has received over 120 million USD in funding from a variety of investors, including Koch Disruptive Technologies, Innovation Endeavors, Goodyear Ventures, and RyderVentures.)

Movement of Microsoft stocks in the last five years. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/msft:us

https://www.forbes.com/sites/alanohnsman/2021/08/31/robot-truck-startup-gatik-raises-85-million-in-koch-led-funding-round/?sh=dfca56778174

https://www.bloomberg.com/news/articles/2022-10-05/autonomous-trucking-startup-gatik-is-ditching-the-driver-in-canada

https://www.benzinga.com/news/23/01/30272761/microsoft-plans-10m-investment-in-autonomous-driving-startup-gatik-report

https://www.investing.com/news/stock-market-news/microsoft-to-invest-in-autonomous-trucking-startup-gatik-sources-2973031