A Swedish startup received $ 100 million funding to increase their business with autonomous trucks

Einride, a Swedish startup known for its electric and autonomous vehicles with an unusual design, designed for the transport of goods, has obtained a $ 100 million funding from several investors, writes Techcrunch.

At a financing round four years ago, the company was worth below $ 500 million, and now it has doubled its value. The head of the company, Roozbeh Charli, said that financing will allow Einride to increase its customer base and accelerate the implementation of its autonomous transport technology.

Einride develops vehicles called “Einride Pods” that do not have a cab, steering wheel or pedals. They can travel alone on fixed routes – for example between two warehouses – and are remotely monitored by human operators. At the beginning of October, such a driver without a driver made a cross -border cross between Norway and Sweden, writes Freightwaves.com.

Einride also develops software for logistics, providing a digital platform that plans and optimizes transport (routes, charges and energy consumption).

Founded in 2016, Einride initially proposed to produce electric trucks on his own, but later oriented towards the development of integrated systems and solutions for companies, purchasing electric trucks from famous producers, such as Scania.

Einride has expanded beyond the borders of Sweden and operates a fleet of “Heavy-Duty” electric trucks in Europe, North America and the United Arab Emirates, for companies such as Pepsico, Carlsberg and DP WORLD.

In 2021, Einride obtained a financing of $ 110 million from investors such as the Maersk Risk Capital Division and the state investor in Singapore Temasek, writes Reuters.

Also in 2021, the company expanded to the US market and attracted important customers, such as a general electric division, but also the Bridgestone tire manufacturer.