- Microsoft Corp (NASDAQ:MSFT) is planning to invest in Gatik, a California-based autonomous driving startup.
- The technology giant is in advanced talks to make over $10 million investment in a financing round, Reuters reported.
- The financing round values Gatik at more than $700 million.
- Gatik, as part of the deal, will make use of Microsoft’s cloud and edge computing platform Azure to develop autonomous delivery technology for trucks.
- The startup was founded in 2017 by Gautam Narang and Arjun Narang.
- Gatik targets to provide middle-mile, business-to-business logistics for the retail industry.
- In January 2021, Microsoft invested in General Motors Company (NYSE:GM) owned robotaxi developer Cruise.
- Also Read: Microsoft Nears Workers' Union Debut In US
- Price Action: MSFT shares are trading lower by 2.67% at $233.18 in premarket on the last check Wednesday.
- Photo Via Wikimedia Commons
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