Einride, the Swedish Autonomous Vehicle Startup, known for its futuristic transport capsules, has raised $ 25 million in a Series A round to finance its expansion into the US.
The round was co-led by the EQT Ventures Fund and NordicNinja VC, a fund supported by Panasonic, Honda, Omron and the Japan Bank for International Cooperation. Other investors in the round include Ericsson Ventures, the Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures. The startup has so far collected $ 32 million.
A self-propelled vehicle is not a real truck, though it is meant to do the same transport tasks. The company's 201
Einride, founded in 2016, has concluded several customer contracts, including the logistics service provider DB Schenker and the supermarket chain Lidl. Einride has a commercial pilot at DB Schenker. The startup announced that it has also signed "major US retailers" without naming them.
The funds will be used to hire more staff, invest in its software platform, and expand internationally, particularly the US, according to the company. Einride plans to open an office in the US next year.
"Our goal is to disrupt the transportation industry and the closure of our Series A brings us one step closer to achieving that goal," said Robert Falck, co-founder and CEO of Einride. "The funding will enable us to expand in the US, implement our technology roadmap and meet rapidly growing customer demand."