Swedish startup Einride, developer and provider of electric and autonomous freight mobility technology, said it has raised $110 million Series B funding to scale up deployments with Einride’s major customer base in Europe and the United States.
“The road freight market is at an inflection point, with consumer demand and regulation pushing shippers to look for sustainable alternatives,” said Jessica Schultz, General Partner at Northzone.
Einride, whose existing customers include Coca-Cola, Oatly, Lidl and Electrolux, said the round was led by new investors Temasek, Soros Fund Management LLC, Northzone, Maersk Growth and Build Capita.
“With our global reach and expertise, we want to act as a catalyst for the next generation of logistics power players, as an investor and as a partner,” said Jeppe Høier, Partner at Maersk Growth.
Einride was founded in 2016 by Robert Falck, Linnéa Kornehed, and Filip Lilja and is recognized as the world’s first company to operate autonomous, all-electric freight vehicles on fixed commercial routes on public roads. In Estonia Cleveron is doing the same freely in traffic.
Einride said also its previous investors EQT Ventures, Plum Alley Investments, Norrsken VC, Ericsson and NordicNinja VC also participated in the round.