Einride raises $110 million Series B to accelerate the future of freight mobility
Sweden - May 6, 2021 - Einride, the leading developer and provider of electric and autonomous freight mobility technology, announced today that it has raised $110 million Series B funding from new investors Temasek, Soros Fund Management LLC, Northzone, Maersk Growth and Build Capital. Existing investors EQT Ventures, Plum Alley Investments, Norrsken VC, Ericsson and NordicNinja VC also participated in the round.
This most recent addition of financing will be used to scale up deployments with Einride’s major customer base in Europe and the U.S.
According to Global Industry Analysts Inc, the global market for freight trucking reached $4.2 trillion in the year 2020 and is projected to reach $5.5 trillion by 2027. In 2020, the U.S. road freight market reached an estimated $1.1 trillion. This, coupled with the fact that road freight accounts for 7% of global CO2 emissions, has resulted in an overwhelming demand for long-term sustainable transport solutions.
Einride, whose existing customers include Coca-Cola, Oatly, Lidl and Electrolux, is the leading provider of intelligent solutions for both autonomous and electric freight transportation. Its ethos lies in sustainability and cutting-edge technology that drives cost efficiency. Since its inception it has helped reduce customer CO₂ emissions by 94% compared to driving with diesel, including embodied emissions.
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 commercial routes on public roads. Its most well-known product is the Einride autonomous vehicle, a cutting-edge solution to cabless freight mobility. It’s the only driverless freight mobility vehicle on the market and in commercial use. The Einride autonomous vehicle also holds the current global speed record for electric and autonomous freight. Today, Einride operates the largest fleet of heavy electric trucks in Europe together with its customers.
In addition to its business-to-business transportation modules, Einride offers the Einride Mobility Platform, a cloud-native transport execution system for autonomous and electric road transport that allows customers to use real-time information and data driven insights to implement sustainable, cost-efficient, and high-performing transport logistics.
“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,” said Robert Falck, CEO and co-founder of Einride. “Their network, reach and experience will be invaluable as we further accelerate our strong momentum as the leader in autonomous and electric freight transportation, 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.”
“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. “We look forward to being part of Einride’s mission to electrify and decarbonize inland transport globally.”
"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 has emerged as the category leader, allowing global shippers to shift to electric and autonomous freight options. We've been blown away by the quality of the Einride team and are proud to support their journey towards the future of freight."
“Einride has one of the most ambitious teams I've met as a VC. What’s more, they have a clear and important mission, drastically lowering global freight emissions,” said Ted Persson, Partner at EQT Ventures. “As a purpose-driven investment organization ourselves, we’re proud to be supporting them on this journey as they lead the transition to sustainable freight. Their impressive list of customers and partners positions Einride uniquely in the marketplace.”
“The rapid growth of Einride has energized the entire industry,” said Avantika Daing, Managing Director and Partner at Plum Alley Investments. “Einride has spearheaded innovation in the autonomous and electric freight transportation industry and the growth in business application is a steady sign that the future of freight has begun. “As early pioneers, we believe in Einride’s ability to become a global solution to sustainable and cost-competitive road freight transport.”
Einride is a Swedish technology company that develops and provides freight mobility solutions based on electric and autonomous vehicles, leading the transition to sustainable transport. It was founded in 2016 by Robert Falck, Linnéa Kornehed, and Filip Lilja, and became the world’s first company to operate an autonomous, all-electric freight vehicle on a commercial route on a public road with its groundbreaking autonomous vehicle. Today, Einride operates the largest fleet of electric trucks in Europe with major multinational partners, and recently set a speed record with the autonomous vehicle at the Top Gear track in the U.K. For more information visit or reach out to email@example.com.
|5.31.2023||Einride and UAE Ministry of Energy and Infrastructure Partner to Deploy Region's Largest Autonomous and Electric Fleet|
|4.19.2023||Einride Enables the Switch to Sustainable Freight in the UK|
|12.7.2022||Einride Secures $500 Million in Financing to Accelerate Deployment of Sustainable Freight Mobility|
|12.1.2022||Einride Launches in Benelux with World’s Leading Brewer, AB InBev to Lead Electric Transport Transformation in the Region|
|11.2.2022||Einride Unveils Disruptive Freight Mobility Solutions at November Release Event|
|10.27.2022||Einride Completes Historic Autonomous Vehicle Pilot on US Public Road With GE Appliances|
|9.15.2022||Einride Goes Live in Germany – Introduces a New Generation of Shipping Technology|
|7.28.2022||Einride and Beyond Meat® Work Together to Introduce Electric Vehicles to Beyond Meat’s U.S. Shipping Network|
|6.23.2022||New Type of Vehicle Developed by Einride Gets NHTSA Approval to Operate on US Public Road|
|6.9.2022||Einride and Oatly Expand Partnership to Electrify Oatly's North American Fleet|
|5.19.2022||Einride Unveils Expanded Product Offerings At First User Conference, Einride Mesh|
|3.24.2022||Einride and A.P. Moller - Maersk Partner for Largest Ever Electrification of Heavy Duty Road Freight|
|3.14.2022||Einride unveils world's first remote operator of autonomous, electric vehicle fleet|
|1.10.2022||Einride Brings on Freight Industry Expert to Lead European Team – Robert Ziegler Joins as General Manager, Europe|
|11.3.2021||Einride launches in the US - first to US market with the future of shipping|
|10.26.2021||Einride & GE Appliances announce first U.S. fleet of autonomous and electric trucks|
|8.12.2021||Einride Partners with Bridgestone to Create Cleaner, Safer, Low-Carbon Freight Mobility|
|6.22.2021||Co-founder of Klarna, Niklas Adalberth, joins Board of Directors at Einride|
|5.6.2021||Einride raises $110 million Series B to accelerate the future of freight mobility|
|3.16.2021||SKF and Einride enter into partnership for testing autonomous and electric transport|
|2.22.2021||Einride and Electrolux enter innovation partnership to electrify transports|
|2.16.2021||Einride and Lidl roll out intelligent and sustainable transport|
|12.3.2020||Einride next-generation autonomous vehicles powered by NVIDIA DRIVE AGX Orin for high-speed autonomous operations|
|11.12.2020||Einride strengthens logistics expertise with transportation industry research veteran|
|10.30.2020||Oatly reduces carbon footprint by 87% on selected routes in first month with Einride electric trucks and freight mobility platform|
|10.20.2020||Polarrenen drives transition to sustainable transport by becoming Einride financing partner|
|10.15.2020||Einride autonomous vehicle becomes first to set a record for an autonomous electric freight vehicle at the Top Gear track|
|10.8.2020||Einride launches next-generation autonomous vehicle, makes autonomous electric transport commercially available worldwide|
|10.2.2020||Einride Emerges as Leader in Autonomous Freight, Generating Revenue and Announcing New Investment from impact fund Norrsken VC|
|6.3.2020||Einride Launches Intelligent Freight Mobility Platform, Makes Sustainable Transport Attainable Today|
|5.14.2020||Einride partners with Oatly to electrify transport in Sweden|
|4.22.2020||Switching to sustainable freight: Lidl and Einride to electrify transport in Sweden|
|4.7.2020||Einride showcases one operator, multiple vehicle capability at a customer site|
|2.14.2020||Einride launches a beta version of the freight mobility platform for shippers|
|12.6.2019||Coca-Cola European Partners teams up with Einride for sustainable transport|
|10.10.2019||Einride raises $25 million series A to accelerate commercialization of its Autonomous, Electric Transport System|
|8.22.2019||Anders Böös new Chairman of Einride’s Board of Directors|
|5.16.2019||World premiere: First cab-less and autonomous, fully electric truck in commercial operations on public road|
|5.8.2019||World Premiere: Einride and DB Schenker to inaugurate first cab-less and autonomous, fully electric truck on public road|
|5.8.2019||Einride and innovative Swedish logistics company collaborates around sustainable transport|
|4.26.2019||Former Head of Daimler Trucks Asia will join Einride’s board of directors|
|2.25.2019||Einride showcases new teleoperation solution at Mobile World Congress|
|2.14.2019||Einride is teaming up with Ericsson to demonstrate the future of transport at the world’s largest mobile event|
|11.7.2018||Einride, Ericsson and Telia partners on 5G to bring autonomous, all-electric vehicles to the market|
|11.6.2018||DB Schenker and Einride launch first commercial installation of an Einride autonomous vehicle|
|7.12.2018||All-electric, autonomous logging truck revealed at Goodwood Festival of Speed|
|4.18.2018||The world’s first self-driving truck on public roads — to be introduced in Sweden|
|10.25.2017||Einride, a Swedish self-driving transportation startup, partners with Lidl to reduce emissions by up to 93 percent|