Self-driving truck startup Einride raises $113M PIPE ahead of public debut

Einride, the Swedish trailblazer in electric and autonomous freight technology, has just secured a staggering $113 million PIPE (private investment in public equity) in an oversubscribed round, signaling strong investor confidence as it prepares for its long-anticipated public debut in the first half of 2026. This funding milestone comes on the heels of the company’s November 2025 announcement that it will go public via a merger with Legato Merger Corp., a special purpose acquisition company (SPAC), in a deal that values Einride at a pre-money valuation of $1.35 billion—down from the $1.8 billion figure initially attached to the SPAC agreement, but still a testament to the market’s appetite for cutting-edge autonomous freight solutions.

The PIPE round attracted both new and existing investors, including a prominent West Coast-based global asset management firm and EQT Ventures from Stockholm. In total, Einride has now raised approximately $213 million in connection with this transaction, which includes $100 million in previously announced crossover financing. With the SPAC merger expected to deliver around $220 million from Legato’s trust account, the combined gross proceeds are projected to reach an impressive $333 million before redemptions and expenses, though the company may seek additional capital before the deal closes.

So, what’s next for Einride? The fresh capital injection will fuel the company’s ambitious technology roadmap, accelerate its global expansion, and drive forward its autonomous deployments across North America, Europe, and the Middle East. Einride’s vision is nothing short of revolutionary: a future where freight is moved by intelligent, electric, and fully autonomous vehicles, eliminating the need for human drivers and dramatically reducing carbon emissions.

Einride’s current operations are already making waves. Outside of Sweden, the company operates a fleet of 200 heavy-duty electric trucks across Europe, North America, and the UAE, serving major clients like Heineken, PepsiCo, Carlsberg Sweden, and DP World. But it’s Einride’s autonomous pod-like trucks that have captured the imagination of the industry. These futuristic vehicles, designed with no room for a human driver, have already been deployed in limited pilots with customers such as Apotea in Sweden and GE Appliances in the U.S.

The autonomous freight sector is heating up, and Einride is far from alone in its quest for public market validation. Aurora Innovation, another autonomous vehicle pioneer, went public via a SPAC merger valued at $13 billion in 2021 and has since launched a commercial self-driving trucks operation—albeit with a human observer on board. More recently, Kodiak AI also took the SPAC route to the public market in 2025, underscoring the growing momentum behind autonomous freight and the appetite for scalable, technology-driven logistics solutions.

Einride’s journey reflects a broader trend in the tech and transportation industries: the convergence of sustainability, automation, and global supply chain optimization. As the world grapples with climate change, labor shortages, and the need for greater efficiency, companies like Einride are positioning themselves at the forefront of a freight revolution. Their electric and autonomous vehicles promise not only to reduce emissions but also to transform the economics of logistics, making freight transport safer, faster, and more reliable.

Looking ahead, Einride’s public debut will be a pivotal moment—not just for the company, but for the entire autonomous freight ecosystem. With over $300 million in fresh capital and a clear vision for the future, Einride is poised to accelerate its mission to reshape global freight. Whether it’s through electrifying last-mile delivery, pioneering autonomous long-haul routes, or expanding into new markets, Einride’s next chapter promises to be as bold and ambitious as the technology it champions.

As the countdown to its NYSE debut begins, all eyes will be on Einride to see if it can deliver on its promise of a cleaner, smarter, and more autonomous future for freight. One thing is certain: the road ahead is electrifying.

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