Einride Emerges as Leader in Autonomous Freight, Generating Revenue and Announcing New Investment from impact fund Norrsken VC


10.2.2020
October 1, 2020 - Einride, a Swedish technology company that develops and provides freight transport solutions based on electric and autonomous vehicles, today announced $10 million in new funding from existing investors led by impact fund - Norrsken VC. The EQT Ventures fund (“EQT Ventures”), Nordic Ninja VC, Ericsson Ventures, and other investors also participated in the round. This new round of funds will be used to fast track the official launch of its Einride autonomous vehicle and meet the overwhelming demand from existing clients including Oatly, Lidl, and more. In addition to this new funding, Norrsken VC, which was founded by the Klarna co-founder Niklas Adalberth, will be joining Einride’s advisory board.
In March 2020, the AI and robotics industry saw major names shut its doors which sent a shiver down the spine of the autonomous trucking industry. Contrarily, in the wake of COVID-19, there has been a shift towards searching for a more efficient, contactless way to achieve the same levels of transport as before. During this time, Einride has maintained a strong stream of new partnerships, including onboarding two major partners, Oatly and Lidl, and launching the mainnet version of its Freight Mobility Platform.
“There is both a lot of excitement and a lot of uncertainty about autonomous trucking, but the fact remains: this is one of the largest business opportunities in the history of mankind,” said Robert Falck CEO of Einride. “We have a unique opportunity to make transport both exponentially safer and more sustainable. 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.”
Einride is the first amongst its competitors to have a solution in production and generate revenue It is also the first freight transport start-up to operate a truly driverless heavy transport vehicle on a public road. In addition, Einride is the only company to operate these vehicles daily at customer sites. Beyond developing cutting-edge autonomous technology with the Einride autonomous vehicle, the company offers a freight mobility operating system that intelligently manages the transition to electric and autonomous freight on an individual transport network level. With the additional funding and strategic input from Norrsken VC, the newest member of the Einride advisory board, Einride plans to continue leading the transition to an autonomous and sustainable future of freight.
“Eliminating CO2 emissions causing rapid climate change is one of the greatest challenges facing humanity. As one of the largest emitters, what the road transport industry does in the coming years will have an enormous impact on reaching sustainability goals. At Norrsken, we have been with Einride since the beginning, and are proud to continue to support this movement towards electric, autonomous transport,” said Niklas Adalberth, co-founder of Klarna and the Norrsken Foundation.
About Einride
Einride is a Swedish technology company that develops and provides freight transport solutions based on electric and autonomous vehicles. 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. Recently, the company launched the Einride Mobility Platform, a cloud-native transport execution system for autonomous, electric and traditional road transportation. With the platform, customers can use real-time information and actionable insights to implement sustainable, cost-efficient and high performing transport logistics.
For more information on Einride and its sustainable, autonomous, and freight management solutions, visit: https://www.einride.tech/news.
About Norrsken VC
Norrsken VC is part of Norrsken Foundation, which believes that entrepreneurs building rapidly scalable businesses are our best bet to solve the world’s greatest challenges, such as poverty, health, climate, mental health and discrimination. Norrsken Foundation is a non-religious, non-partisan, non-profit foundation, founded in Stockholm, Sweden, in 2016.
For more information on Norrsken VC and its investments, visit: Norrsken VC https://www.norrsken.vc
Press releases
Date | Title |
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8.24.2023 | Einride Names Corinne Aaron, Former Tesla Marketing Lead as New Chief Marketing Officer |
6.21.2023 | Einride Appoints Former Volvo Cars CTO to Lead Autonomous Technologies |
6.14.2023 | Einride Goes Live in Norway to Lead Electric Deployment of Freight Mobility |
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 |