Einride to use latest funding to support organizational growth and continued investment in its software platform

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Autonomous transport provider Einride has raised $25 million in a Series A round.

The company will use the funding to support both organizational growth and continued investments in its software platform. The funding will also be used to further international expansion, which will allow the company to continue building demand for sustainable transport and delivering on its growing number of customer contracts with entities such as logistics provider DB Schenker, supermarket chain Lidl and transport intensive companies based in the U.S.

“Our ambition is to disrupt the transport industry and closing our series A brings us one step closer to that goal,” says Robert Falck, CEO & founder of Einride.

“The funding will allow us to start expanding in the US, deliver on our technology road map and to meet rapidly increasing customer demand.”

Founded in 2016, Einride develops autonomous electric transport (AET)-systems. Last year, the company collaborated with DB Schenker to launch a commercial installation of an all-electric, autonomous truck at a DB Schenker facility in Sweden. Earlier this year, the Einride pod became the first autonomous, all-electric truck in the world to operate a commercial flow for DB Schenker with a permit on public road.

The pods are designed for autonomous, all-electric operations, meaning that they don’t have a cab or room on board for human drivers.

“Einride’s solution in transportation solves the environmental, safety and manpower problems that have haunted the industry for years,” says Marek Kiisa, the managing partner of NordicNinja VC, one of the investors during the funding round.

“Moreover, their fleet system has a unique potential to make long distance ground transport as reliable as water. This is truly revolutionary.”