Electric truck startup Einride raises $10 million to push further into autonomous driving

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Einride, a Swedish company that wants to put electric autonomous trucks on the road, has raised $10 million in a round led by Norrsken VC.

The Stockholm-based company is manufacturing electric trucks that it hopes will one day hit the roads as fully autonomous vehicles. Some of its clients include Lidl and Oatly, who use the trucks for part of their logistics.

EQT Ventures, Nordic Ninja VC, Ericsson Ventures and others contributed to this latest investment. Founded in 2016, the startup raised a $25 million Series A round last year.

It said the new funds will be invested in its Einride Pods, a driverless vehicle that operates either autonomously or by a remote operation centre. The Pod has been tested at closed facilities and on select public roads since 2019.

Robert Falck, CEO of Einride, said there is a large opportunity to be seized in autonomous trucking despite some uncertainties.

“We have a unique opportunity to make transport both exponentially safer and more sustainable,” he said. “It’s something the vast majority of us want, but many are unsure of how to get there and resort to half-measures. We expect to see the autonomous transport industry expand exponentially in the coming years, especially in the wake of a global pandemic.”

The company added that that fully-electric logistics will aid in reducing emissions among the logistics and road transport industry.

Norrsken VC’s Niklas Adalberth, a Klarna co-founder, will be joining Einride’s advisory board as part of this latest investment.

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