Einride raises $110M for US & Europe expansion

A photo of illustrated dollar bags on an electric Einride vehicle
Einride electric vehicle

Einride AB, a Swedish electric automobile logistics startup organization generated $110 million from investors in order to fund the company’s expansion to the US and Europe.

Einride was launched in 2017 and has successfully built its own logistics software platform from scratch. It has also been able to re-engineer regular diesel trucks into electric trucks for some of its clients like Lidl.

Some of the investors that are funding Einride’s expansion include the world’s largest shipper, Moller-Maersk, Soros Fund Management, Northzone, Temasek, and other pre-existing investors of the organization.

Although Einride hasn’t put a specific date to when its electric vehicles will be available for commercial purposes, the company has stated that its mobile platform is ready and can give real-time information and insight to clients in order to aid better logistic operations.

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