Temasek Holdings Invests in Series C in Einride
Posted on 12/07/2022
Einride AB is a Swedish transport company based in Stockholm, Sweden, specializing in electric and self-driving vehicles known as Einride pods. Einride AB raised US$ 200 million in Series C equity funding from Northzone, EQT Ventures, Temasek Holdings, Swedish pension fund AMF, Polar Structure, and Norrsken VC. The equity contribution includes a US$ 90 million convertible note raised earlier this year.
Einride also secured US$ 300 million in debt in two tranches led by Barclays Europe. The US$ 300 million in debt financing, which includes an initial facility roll out of US$ 150 million starting in January 2023, signed with Barclays Europe, ensures long term funding for Einride’s current and future electric, heavy-duty vehicle fleets.
Goldman Sachs Bank Europe SE acted as sole placement agent on the equity capital raise.
Founded in Stockholm in 2016, Einride initially created a cab-less self-driving cargo truck.
Keywords: EQT Partners AB.
