Sweden’s electric and autonomous freight mobility maker Einride has raised $110 million in a Series B round from new investors Temasek, Soros Fund Management, Northzone, Build Capital, and Maersk Growth. Existing investors EQT Ventures, Plum Alley, Norrsken VC, Ericsson, and NordicNinja VC also participated.
The $110 million is slated to scale up deployments to customers in Europe and the U.S.
Founded in 2016 by Robert Falck, Linnéa Kornehed, and Filip Lilja, Einride is tapping into a $4.2 trillion global market. According to studies, the market for freight trucking is estimated to continue climbing, reaching $5.5 trillion by 2027.
Coupled with the now defacto, “Of course I want it delivered to my doorstep. Tomorrow.”, we’re also now looking at an industry that’s contributing 7% of global CO2 emissions.
Specialising in electric and autonomous freight transport, Einride has helped customers including Coca-Cola, Oatly, Lidl, and Electrolux, reduce their CO2 output by 94%. The company’s most well-known product is the Einride Pod, the only driverless freight mobility vehicle on the market and being used commercially.
And, as an added bonus, I’m happy to report that the Einride Pod holds the global speed record for eclectic and autonomous freight. Because, you know, when you're the only one on the track ...
“We are proud to be backed by some of the world's most notable investors as they support our mission of becoming the leading provider of freight transport-as-a-service,” comments Einride CEO Robert Falck ”Their network, reach and experience will be invaluable as we further accelerate our strong momentum as the leader in autonomous and electric freight, and as we expand into new markets. Einride is dedicated to transforming road freight transport as we know it, making it more cost-efficient, safe, and sustainable.”
And eyecatching. Definitely eyecatching.