Einride, a Swedish company recognized for its distinctive electric and self-driving freight pods, announced on Wednesday that it has secured $100 million in funding from a mix of new and returning investors, with EQT Ventures—its primary stakeholder—among them.
The funding round also featured a confidential strategic investment from IonQ, a quantum computing firm. Both Einride and its investors have chosen not to reveal the company’s valuation following this investment.
This capital injection arrives as Einride transitions to new leadership and works to expand its trio of core offerings: electric semi-trucks, autonomous pod vehicles for set routes, and logistics software for shippers. CEO Roozbeh Charli stated that the new funds will help the company scale alongside its clients and speed up the rollout of its autonomous freight solutions.
Founded in 2016, the company began in Sweden with the goal of transforming freight transport—initially with electric trucks, followed by the introduction of autonomous electric pods specifically engineered for self-driving, lacking traditional controls like steering wheels or pedals.
Einride has since grown beyond its Swedish roots, now operating heavy electric truck fleets in Europe, North America, and the UAE, serving clients such as PepsiCo, Carlsberg Sweden, and DP World. Its autonomous pod trucks have also been adopted by customers like Apotea in Sweden and GE Appliances in the US.
“We see Einride as creating the most comprehensive and innovative freight ecosystem available today,” said Ted Persson, a partner at EQT Ventures, in a statement. “Nordic technology often flies under the radar until it transforms an entire sector. That’s precisely what Einride is achieving in freight.”
Nevertheless, Einride has experienced organizational shifts and, like much of the emerging autonomous vehicle industry, faces the lengthy and costly challenge of moving from development to full-scale commercial deployment.
About five months ago, co-founder Robert Falck stepped down as CEO to become executive chairman, focusing on long-term strategy, while Roozbeh Charli, previously the CFO, assumed the chief executive role.
Back in 2022, Einride raised $500 million in a Series C round that included both equity and debt. Of this, $200 million in equity came from investors such as Northzone, EQT Ventures, Temasek, Swedish pension fund AMF, Polar Structure, and Norrsken VC, while Barclays Europe led the $300 million debt financing.
