Autonomous Trucking Startup Einride Raises $100 Million.

Einride, a Swedish startup building self-driving trucks, secured $100 million to scale the deployment of its autonomous fleet. The funding came from both existing and new investors. This raise follows a year of strong growth, with net sales more than doubling.

Founded in 2016, Einride seeks to transform the freight industry by addressing the shortage of skilled truck drivers through the development of self-driving trucks for last mile delivery. The company is also known for building “strange” looking pods that are designed to carry freight on fixed routes.

“We believe Einride is building the most complete and forward-looking freight ecosystem on the market today,” Ted Persson, partner at EQT Ventures, said in a statement.

However, the company has faced several internal challenges. CEO Robert Falck stepped down and assumed the role of chairman, while the CFO was promoted to CEO to guide the company as it scales operations across Europe and the Middle East.

The company had previously raised $500 million in 2022 from investors such as Northzone, EQT Ventures, Temasek, and Swedish pension fund AMF.

Recent developments in autonomous vehicles include startups such as Kodiak AI and Aurora going public. In June, Applied Intuition reportedly raised $600 million to expand its technology across a range of vehicles and industries.