Maersk invests in Einride during latest Series B funding
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Swedish manufacturer Einride, who develops and provides 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.
Einride says the most recent addition of financing will be used to scale up deployments with its major customer base in both Europe and the U.S.
Einride, who already have high-profile clients from Coca-Cola, Oatly, Lidl and Electrolux, claims to be the leading provider of intelligent solutions for both autonomous and electric freight transportation. The company states it has helped reduce customer CO₂ emissions by 94% compared to driving with diesel, including embodied emissions.
The manufacturer’s most well-known product is the Einride Pod – the only driverless freight mobility vehicle on the market that’s in commercial use.
Besides manufacturing vehicles, the company also offers 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 more efficient, sustainable and cost-efficient logistics solutions.
Robert Falck, CEO and co-founder of Einride, says the calibre of the investors during the latest Series B has made the company proud:
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. 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.
One of the most high-profile investors during the latest Series B were Maersk. Jeppe Høier, Partner at Maersk Growth, believes the investment will “act as a catalyst for the next generation of logistics power players”:
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. We look forward to being part of Einride’s mission to electrify and decarbonize inland transport globally. With its cost efficient cutting-edge technology and sustainable focus, Einride is a perfect fit for the Growth portfolio and the decarbonisation priorities of A.P. Moller – Maersk.
Photo credit: Einride