Leading the latest funding round for Gatik are the Qatar Investment Authority and Koch Disruptive Technologies, the venture-capital arm of Koch Industries, which first invested in the company five years ago. Several other firms, including Cathie Wood’s ARK Invest, also took part. Narang's near-term goal is to scale from dozens of driverless middle-mile trucks on the road to several hundred by year’s end.

The Gatik team said earlier this year that it had built a backlog of contracted revenue that topped $600 million and reiterated that figure in its funding announcement. But speaking on Bloomberg Tech August 25, Narang–who wouldn’t commit to saying the company’s operations have begun turning a profit–said that figure has “increased significantly” in recent months.

Those figures appear to put Gatik on a level similar to autonomous freight competitor Einride, whose executives recently said they plan to buy 500 Tesla Semi trucks in the next two years. Einride CEO Roozbeh Charli also noted that his team’s potential long-term annual revenues from business plans penciled out with customers, a measure roughly comparable to contracted revenue, albeit leaning a bit more on “potential,” have grown to about $800 million.