Einride raises $25m, eyes new milestones

Self-driving electric shipping vehicles startup Einride has closed a $25 million Series A round. This was co-led by the EQT Ventures and NordicNinja VC. Also joining the round were Ericsson Ventures, Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures.

“Our ambition is to disrupt the transport industry and closing our Series A brings us one step closer to that goal. The funding will allow us to start expanding in the US, deliver on our technology road map and to meet rapidly increasing customer demand,” says Robert Falck, CEO and Founder, Einride, which has landed contracts with the likes of DB Schenker and Lidl.

“We are proud to have such a strong line-up of international investors joining us as shareholders. Their support and combined experience will help us to continue delivering new commercial milestones and technological breakthroughs, transforming road freight transport as we know it, making it more efficient, safe and sustainable.”

“Einride is taking on the huge challenge of revolutionising the jurassic global transportation market by automating and electrifying transportation to reduce CO2 emissions,” says Ted Persson, Operating Partner and Investment Advisor at EQT Ventures. “Its approach of tying together software and hardware to take transportation into the future is by far one of the most ambitious I’ve seen as an investor in Europe.”