Part self-driving tech brand, part 3PL, Swedish trucking startup Einride AB has been making a name for itself in the US and abroad by delivering zero-emission freight solutions that work. Following the company’s latest $100 million funding round, it’s delivering something else, too: a billion dollar valuation.
Bloomberg is reporting that Einride AB has closed a $100 million funding round at more than double the 400 million euro valuation (~$470 million) in its last 2021 funding round.
The source of that information, according to initial reports, spoke on the condition of anonymity but seems credible enough for the article to show up on Transport Topics. Einride, meanwhile, declined to comment on the dollar amounts, but did release a statement stating that the latest raise featured a mix of existing and new investors, including EQT Ventures, an unidentified global asset management company based on the American west coast, and IonQ, Inc.
“The capital will power Einride’s next phase of growth as it scales the deployment of its autonomous freight solutions, deepens technology development, and continues its expansion with customers,” said the company’s statement. “(After) a year of sustained growth for Einride with net sales more than doubling in 2024, a successful expansion into Austria and the UAE, and a growing footprint with global shippers across Europe and North America.”
The move follows Einride CEO Robert Falck’s moves this past summer seemingly intended to prepare the company for a listing on a US stock exchange. The company generated $47 million in transport revenue last year with a mix of its own autonomous container trucks and a fleet of more than 150 battery-electric Peterbilt electric semi trucks, and has started cutting costs to become more efficient ahead of a listing.
The company received approval to begin operating its Level 4 autonomous heavy-duty electric vehicles on public European roads just last month.
Electrek’s Take
While others promise big moves in the electric and self-driving semi truck space, Einride is quietly out there getting the job done, decarbonizing freight operations today with a smarter, safer, and smaller solution to the 18-wheeler.
Watch this space.
SOURCE | IMAGES: Einride, via Bloomberg.
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