Einride announced a $25M investment round from EQT Ventures and Nordic Ninja VC

Finland Sweden Investments 10 October 2019
Share on FacebookShare on Twitter

Einride, a Stockholm, Sweden-based autonomous, all-electric transport provider, announced that it has raised $25 million in capital investment.

The funding was co-led by the EQT Ventures fund from Sweden and NordicNinja VC from Finland, and included Ericsson Ventures, Norrsken Foundation, Plum Alley Investments and Plug and Play Ventures.

The money will be used to continue development of its self-driving electric shipping vehicles and begin targeting international markets.

Einride,  founded in 2016 by CEO Robert Falck and Filip Lilja, developed T/POD, a truck specifically designed for electric propulsion and autonomous driving. The Einride Pods are electric and modular and can be adapted to suit various loads. The goal is to speed the trend toward more efficient and sustainable delivery systems as logistics are stretched under the booming demand for goods worldwide.

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 pod became the world´s first autonomous, all-electric truck to operate a commercial flow for DB Schenker with a permit on public road.

Prior to this round, the company raised almost $10M from outside investors.