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Einride raises $110 million Series B to accelerate the future of freight mobility

2021.05.06

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 Pod, 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 Pod 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.”

About Einride

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 Pod vehicle. Today, Einride operates the largest fleet of electric trucks in Europe with major multinational partners, and recently set a speed record with the Pod at the Top Gear track in the U.K. For more information visit or reach out to press@einride.tech.

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Press releases

Date

Title

2022.01.10

Einride Brings on Freight Industry Expert to Lead European Team – Robert Ziegler Joins as General Manager, Europe

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Co-founder of Klarna, Niklas Adalberth, joins Board of Directors at Einride

2021.06.15

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2021.03.16

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2021.02.22

Einride and Electrolux enter innovation partnership to electrify transports

2021.02.16

Einride and Lidl roll out intelligent and sustainable transport

2021.01.19

Einride recruits from Uber, Volvo Car Mobility and DHL

2020.12.03

Einride next-generation Pods powered by NVIDIA DRIVE AGX Orin for high-speed autonomous operations

2020.11.12

Einride strengthens logistics expertise with transportation industry research veteran

2020.10.30

Oatly reduces carbon footprint by 87% on selected routes in first month with Einride electric trucks and freight mobility platform

2020.10.20

Polarrenen drives transition to sustainable transport by becoming Einride financing partner

2020.10.15

Einride Pod becomes first to set a record for an autonomous electric freight vehicle at the Top Gear track

2020.10.08

Einride launches next-generation Pod, makes autonomous electric transport commercially available worldwide

2020.10.02

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

2020.09.04

Tech industry growth expert joins Einride as Chief Operations Officer to propel customer deliveries

2020.09.04

Einride COO transitions to new role as U.S. General Manager to spur global expansion

2020.07.07

Erikssons Åkeri in Tomelilla offering electric transport with Einride

2020.06.03

Einride Launches Intelligent Freight Mobility Platform, Makes Sustainable Transport Attainable Today

2020.05.14

Einride partners with Oatly to electrify transport in Sweden

2020.04.22

Switching to sustainable freight: Lidl and Einride to electrify transport in Sweden

2020.04.07

Einride showcases one operator, multiple vehicle capability at a customer site

2020.02.14

Einride launches a beta version of the freight mobility platform for shippers

2020.01.28

Google veteran joins Einride as Chief Commercial Officer to accelerate commercialization

2019.12.06

Coca-Cola European Partners teams up with Einride for sustainable transport

2019.10.10

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

2019.10.03

Port of Helsingborg signs Innovation Partnership with Einride

2019.10.03

Einride recruits marketing director from Klarna

2019.08.22

Anders Böös new Chairman of Einride’s Board of Directors

2019.06.05

Michelin Group to implement sustainable transport system from Einride

2019.05.16

World premiere: First cab-less and autonomous, fully electric truck in commercial operations on public road

2019.05.08

World Premiere: Einride and DB Schenker to inaugurate first cab-less and autonomous, fully electric truck on public road

2019.05.08

Einride and innovative Swedish logistics company collaborates around sustainable transport

2019.04.26

Former Head of Daimler Trucks Asia will join Einride’s board of directors

2019.02.25

Einride showcases new teleoperation solution at Mobile World Congress

2019.02.14

Einride is teaming up with Ericsson to demonstrate the future of transport at the world’s largest mobile event

2018.12.18

Einride partners with Dubai RTA to bring autonomous, sustainable road freight to the UAE

2018.12.10

Einride select DeepMap’s HD mapping technology for autonomous vehicle fleet

2018.11.07

Einride, Ericsson and Telia partners on 5G to bring autonomous, all-electric vehicles to the market

2018.11.06

DB Schenker and Einride launch first commercial installation of an Einride pod

2018.07.12

All-electric, autonomous logging truck revealed at Goodwood Festival of Speed

2018.04.18

The world’s first self-driving truck on public roads — to be introduced in Sweden

2017.10.25

Einride, a Swedish self-driving transportation startup, partners with Lidl to reduce emissions by 100 percent

2017.07.05

The transport vehicle of the future; introducing the Einride pod

2017.04.05

Einride to change the future of transport with world’s first sustainable self-driving pod