Einride Raises $500 Million To Grow Autonomous & Electric Trucks Infrastructure
Einride has raised a total of $500 million through $200 million Series C round as well as $300 in debt financing. They plan to increase adoption of their autonomous trucking infrastructure as they expand through Europe.
Created on December 8|Last edited on December 8
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Self-driving cars and other autonomous vehicles are a mainstay goal for machine learning, and that certainly applies to the long-range, heavy-duty field of trucking and product shipping. Autonomous trucking becomes more viable as the years go by, and that's exactly what Einride has been working towards since its inception.
Einride works with big-name clients to bring products to consumers across America and numerous European countries using both human-driven electric trucks and autonomous trucks with human safety drivers. They're actively working to bring fully human-driver-free autonomous trucking to the table, having completed human-free pilot tests on US public roads this last October.
Who's funding Einride, and where's the money going?
Einride has just announced a massive half-billion dollar financing from several different financing sources:
- $200 million of the financing comes from a Series C raise by Temasek Holdings, Polar Structure, Northzone, Norrsken VC, EQT Ventures, and AMF.
- $300 million, starting with $150 million in January 2023, comes as debt financing from Barclays Europe.
Large-scale autonomous trucking is undoubtedly extremely expensive, so the large sum of money will support Einride's general expansion, particularly into additional European countries.
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