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The Station: Einride preps for a US expansion, Argo AI reveals its lidar specs and a Tesla Autopilot reality check
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Autonomous trucking startup Einride raises $110M ahead of expansion into US
Einride, the Swedish startup known for its unusual-looking electric and autonomous pods that are designed to carry freight, has raised $110 million to help fund its expansion in Europe and into the United States.
The Series B round, which far exceeds its previous raises of $10 million in 2020 and $25 million in 2019, included new investors Temasek, Soros Fund Management LLC, Northzone and Maersk Growth. The company said Thursday that existing investors EQT Ventures, Plum Alley, Norrsken VC, Ericsson and NordicNinja VC also participated in the round.
Einride has raised a total of $150 million to date. The company didn’t share its post-money valuation.
Cabless pod developer Einride raises $110M from new and existing investors
Scaling is priority but not thinking about going public yet
0 4 2 minutes read Cabless autonomous pod developer Einride raised $110 million in a Series B funding round. (Photo: Einride)
Sweden-based Einride, whose driverless and cabless freight pods run on electricity, has raised $110 million in a Series B funding round.
First-time investors include Soros Fund Management LLC; Singapore’s Temasek Holdings Ltd.; Maersk Growth, the corporate venture arm of A.P. Moller – Maersk; and U.K. early-stage venture capital fund Northzone.
Existing investors EQT Ventures, Plum Alley, Norrsken VC, Ericsson and NordicNinja VC also participated in the round.
Sweden’s freight mobility provider Einride cruises into $110 million in Soros-backed Series B round
May 6th, 2021.
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.
Investors Pour Millions Into Einride And Hwy Haul As Freight Trucking Needs Explode
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