Einride
11 October 2019

Autonomous transport start-up raises USD 25 million

Einride, an autonomous, all-electric transport provider, has raised USD 25 million in a Series A investment round. With the fresh funds, the start-up is set to expand its footprint in Gothenburg.

According to the company, the funding round was led by Swedish venture capital giant EQT Ventures and Nordic Ninja VC. Other investors joining the round include Ericsson Ventures.

“Our ambition is to disrupt the transport industry and closing our series A brings us one step closer to that goal. The funding will allow us to start expanding in the US, deliver on our technology road map and to meet rapidly increasing customer demand,” said Robert Falck, CEO & founder of Einride.

Founded in 2016, the Swedish company has offices in Gothenburg and Stockholm. The new funds will allow it to expand in Gothenburg, where it develops its vehicles and autonomous driving technology.

“This funding means, among other things, that we can move into a new, larger office in Gothenburg and double our number of employees to 60 people. We are moving from Chalmers to the old Götaverken premise at Lindholmen, where we will have an office for testing and development,” Robert Falck told local newspaper Göteborgs-Posten.

 

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