Einride
Einride

Einride raises $25 million series A to accelerate commercialization of its Autonomous, Electric Transport System

2019.10.10

Einride, the autonomous, all-electric transport provider today announced its $25 million Series A round. The investment was co-led by the EQT Ventures fund ("EQT Ventures"), the European multistage VC fund with commitments of over €566 million and NordicNinja VC, a deep tech focused €101 million Nordic & Baltic fund backed by Panasonic, Honda, Omron and the Japan Bank for International Cooperation (JBIC). Other investors joining the round include Ericsson Ventures, Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures.

The funds will support both organizational growth and continued investments in Einride’s software platform as well as further international expansion, enabling the company to keep on building demand for sustainable transport and delivering on its growing number of customer contracts with major global players like logistics provider DB Schenker, supermarket chain Lidl and large US based transport intensive companies.

“Our ambition is to disrupt the transport industry and closing our series A brings us one step closer to that goal. The funding will allow us to start expanding in the US, deliver on our technology road map and to meet rapidly increasing customer demand”, says Robert Falck, CEO & founder of Einride.

“We are proud to have such a strong line-up of international investors joining Einride as shareholders. Their support and combined experience will help us to continue delivering new commercial milestones and technological breakthroughs, transforming road freight transport as we know it, making it more efficient, safe and sustainable”, Mr Falck commented further.

"Einride's solution in transportation solves the environmental, safety and manpower problems that have haunted the industry for years. Moreover, their fleet system has a unique potential to make long distance ground transport as reliable as water. This is truly revolutionary”, says Marek Kiisa, the Managing Partner of NordicNinja VC.

“Einride is taking on the huge challenge of revolutionising the jurassic global transportation market by automating and electrifying transportation to reduce CO2 emissions,” said Ted Persson, operating partner and investment advisor at EQT Ventures. “Einride’s approach of tying together software and hardware to take transportation into the future is by far one of the most ambitious I’ve seen as an investor in Europe. The EQT Ventures team is excited about joining the Einride team on the next stage of the company's journey"

About Einride

Einride was founded in 2016 by Robert Falck, Linnéa Kornehed and Filip Lilja. The company is a pioneer in AET(Autonomous Electric Transport)-systems. Einride has achieved several world-firsts over the last years. In November 2018, the company joined forces with logistics company DB Schenker to start a commercial installation of an all-electric, autonomous truck, at a DB Schenker facility in Sweden. Earlier this year, the Einride autonomous vehicle became the world´s first autonomous, all-electric truck to operate a commercial flow for DB Schenker with a permit on public road. The company has been globally recognized for its technology as well as the progressive design of transport vehicles. The Einride autonomous vehicles are designed for autonomous, all-electric which for example means that the vehicles do not have a cab or room on board for human drivers.

 

Supporting quotes:

"Plum Alley Investments is proud to support Einride's all-electric road freight transport solution driving an essential evolution in the $2T global industry. Einride’s multimodal approach to logistics autonomy includes a full-stack software that enables all fleet operators to improve efficiency while slashing CO2 emissions - directly addressing its 7% of global carbon footprint. We are glad to be funding a team that challenges industry standards, offering a first to market, cost-effective and sustainable solution to the entire freight industry." - Avantika Daing, Managing Director and Partner, Plum Alley Investments.

"Einride is perfectly aligned with Norrskens vision and strategy: to back companies that use innovative, disruptive technology to make the world a better place. Road freight accounts for around 7% of global energy-related CO2 emissions, and the transition from fossil fuels is not going fast enough. Einride's solution combines reduced CO2 emissions with higher productivity and cost efficiency for their customers. With both economic and environmental incentives in place, we strongly believe that Einride will drive a revolutionary, long lasting and necessary change of this industry, says Tove Rådelius, investment manager at Norrsken."

“Plug and Play’s goal is to bring together key stakeholders in different industries to facilitate partnerships. We are thrilled to back such a stellar team on their mission to make transportation more sustainable and cost-effective,” said Saeed Amidi, Founder and CEO of Plug and Play. “Einride’s technology has created a more energy-efficient solution that is pioneering change for the future and we’re proud to have them as part of our portfolio.”

For more information please visit: http://www.einride.tech/press/

Or contact:

Nicholas Rundbom, Communications Director, Einride

nicholas.rundbom@einride.tech, +46725116673

 

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Press releases

DateTitle
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2022.03.24Einride and A.P. Moller - Maersk Partner for Largest Ever Electrification of Heavy Duty Road Freight
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2022.01.10Einride Brings on Freight Industry Expert to Lead European Team – Robert Ziegler Joins as General Manager, Europe
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2021.10.26Einride & GE Appliances announce first U.S. fleet of autonomous and electric trucks
2021.08.12Einride Partners with Bridgestone to Create Cleaner, Safer, Low-Carbon Freight Mobility
2021.06.22Co-founder of Klarna, Niklas Adalberth, joins Board of Directors at Einride
2021.05.06Einride raises $110 million Series B to accelerate the future of freight mobility
2021.03.16SKF and Einride enter into partnership for testing autonomous and electric transport
2021.02.22Einride and Electrolux enter innovation partnership to electrify transports
2021.02.16Einride and Lidl roll out intelligent and sustainable transport
2020.12.03Einride next-generation Pods powered by NVIDIA DRIVE AGX Orin for high-speed autonomous operations
2020.11.12Einride strengthens logistics expertise with transportation industry research veteran
2020.10.30Oatly reduces carbon footprint by 87% on selected routes in first month with Einride electric trucks and freight mobility platform
2020.10.20Polarrenen drives transition to sustainable transport by becoming Einride financing partner
2020.10.15Einride autonomous vehicle becomes first to set a record for an autonomous electric freight vehicle at the Top Gear track
2020.10.08Einride launches next-generation autonomous vehicle, makes autonomous electric transport commercially available worldwide
2020.10.02Einride Emerges as Leader in Autonomous Freight, Generating Revenue and Announcing New Investment from impact fund Norrsken VC
2020.06.03Einride Launches Intelligent Freight Mobility Platform, Makes Sustainable Transport Attainable Today
2020.05.14Einride partners with Oatly to electrify transport in Sweden
2020.04.22Switching to sustainable freight: Lidl and Einride to electrify transport in Sweden
2020.04.07Einride showcases one operator, multiple vehicle capability at a customer site
2020.02.14Einride launches a beta version of the freight mobility platform for shippers
2019.12.06Coca-Cola European Partners teams up with Einride for sustainable transport
2019.10.10Einride raises $25 million series A to accelerate commercialization of its Autonomous, Electric Transport System
2019.10.03Port of Helsingborg signs Innovation Partnership with Einride
2019.08.22Anders Böös new Chairman of Einride’s Board of Directors
2019.06.05Michelin Group to implement sustainable transport system from Einride
2019.05.16World premiere: First cab-less and autonomous, fully electric truck in commercial operations on public road
2019.05.08World Premiere: Einride and DB Schenker to inaugurate first cab-less and autonomous, fully electric truck on public road
2019.05.08Einride and innovative Swedish logistics company collaborates around sustainable transport
2019.04.26Former Head of Daimler Trucks Asia will join Einride’s board of directors
2019.02.25Einride showcases new teleoperation solution at Mobile World Congress
2019.02.14Einride is teaming up with Ericsson to demonstrate the future of transport at the world’s largest mobile event
2018.11.07Einride, Ericsson and Telia partners on 5G to bring autonomous, all-electric vehicles to the market
2018.11.06DB Schenker and Einride launch first commercial installation of an Einride autonomous vehicle
2018.07.12All-electric, autonomous logging truck revealed at Goodwood Festival of Speed
2018.04.18The world’s first self-driving truck on public roads — to be introduced in Sweden
2017.10.25Einride, a Swedish self-driving transportation startup, partners with Lidl to reduce emissions by up to 93 percent
2017.07.05The transport vehicle of the future; introducing Einride's autonomous vehicle
2017.04.05Einride to change the future of transport with world’s first sustainable self-driving autonomous vehicle

© 2022 Einride. All rights reserved.

© 2022 Einride. All rights reserved.

© 2022 Einride. All rights reserved.