Velodyne Lidar Signs Multi-Year Sales Agreement with Gatik
Utilizing Velodyne Sensors, Gatik has Established North America’s First Autonomous Middle Mile Transportation Network
SAN JOSE, CALIF.--(Business Wire / Korea Newswire) April 21, 2021 -- Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced a multi-year sales agreement with Gatik, the industry leader in automating on-road transportation networks for B2B middle mile logistics. Gatik uses Velodyne’s lidar sensors as a key part of a fully redundant sensor suite to deliver goods safely and efficiently between micro-fulfilment centers, dark stores and retail locations - a logistics flow known as the middle mile. Gatik fulfills revenue-generating autonomous orders daily for multiple Fortune 500 customers in the US and Canada, including Walmart, reducing customer costs and keeping delivery times short.
Gatik uses Velodyne’s Alpha Prime™ and Ultra Puck™ lidar sensors to support short-haul logistics with precise, reliable navigation for real-time autonomous operations. Gatik operates a fleet of class 3-6 trucks, equipped with multi-temperature compartments, 7 days a week, 12 hours a day, on routes up to 300 miles in multiple markets across North America. Gatik’s solution helps retailers meet consumer demand for rapid delivery of goods driven by soaring e-commerce growth, increase road safety for all road users and help customers meet an unprecedented expectation for contactless delivery.
“Velodyne’s sensor solutions have the proven performance, reliability and resilience our AVs need to operate safely and efficiently in complex urban operational design domains,” said Arjun Narang, Co-Founder and Chief Technology Officer, Gatik. “We’re excited to be rapidly scaling our autonomous solution with the support of Velodyne’s industry-leading lidar technology.”
“Gatik is bringing autonomous delivery into the mainstream and creating significant efficiencies in supply chain logistics for retailers. It may be an eye-opener for many people to learn that Gatik’s AVs using Velodyne’s sensors were likely involved in delivering some of the goods they are using in their homes,” said Anand Gopalan, Chief Executive Officer, Velodyne Lidar. “They are demonstrating how Velodyne sensors help AVs provide efficient and safe movement of goods.”
Velodyne’s Alpha Prime and Ultra Puck sensors, which use Velodyne’s patented 3D surround view technology, provide real-time object detection needed for safe navigation and reliable operation. The sensors provide the range, accuracy and resolution that make them ideal solutions for autonomous logistics services. They detect and track vehicles, pedestrians and other obstructions to help autonomous vehicles safely navigate at various speeds, traveling night and day in a range of road conditions such as rain, sleet and snow.
About Velodyne Lidar
Velodyne Lidar (Nasdaq: VLDR, VLDRW) ushered in a new era of autonomous technology with the invention of real-time surround view lidar sensors. Velodyne is the first public pure-play lidar company and is known worldwide for its broad portfolio of breakthrough lidar technologies. Velodyne’s revolutionary sensor and software solutions provide flexibility, quality and performance to meet the needs of a wide range of industries, including autonomous vehicles, advanced driver assistance systems (ADAS), robotics, unmanned aerial vehicles (UAV), smart cities and security. Through continuous innovation, Velodyne strives to transform lives and communities by advancing safer mobility for all. For more information, visit www.velodynelidar.com.
Gatik was founded in 2017 by veterans of the autonomous technology industry and has established offices in Palo Alto and Toronto. The company has established North America's first autonomous middle mile transportation network with its fleet of light to medium duty trucks, focusing on short-haul, B2B logistics for Fortune 500 retailers such as Walmart and Loblaw. Gatik enables its customers to optimize their hub-and-spoke supply chain operations, enhance inventory pooling across multiple locations, reduce labour costs and meet an unprecedented demand for contactless delivery. For more information visit www.gatik.ai
Forward Looking Statements
This press release contains “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 including, without limitation, all statements other than historical fact and include, without limitation, statements regarding Velodyne’s target markets, new products, development efforts, competition. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “can,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Velodyne‘s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include Velodyne’s ability to manage growth; Velodyne‘s ability to execute its business plan; uncertainties related to the ability of Velodyne’s customers to commercialize their products and the ultimate market acceptance of these products; the uncertain impact of the COVID-19 pandemic on Velodyne‘s and its customers’ businesses; uncertainties related to Velodyne‘s estimates of the size of the markets for its products; uncertainties regarding government regulation and adoption of lidar for pedestrian safety, traffic congestion and smart city applications; the rate and degree of market acceptance of Velodyne’s products; the success of other competing lidar and sensor-related products and services that exist or may become available; Velodyne‘s ability to identify and integrate acquisitions; uncertainties related to Velodyne’s current litigation and potential litigation involving Velodyne or the validity or enforceability of Velodyne‘s intellectual property; and general economic and market conditions impacting demand for Velodyne’s products and services. Velodyne undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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