Electric truck maker Harbinger has been racking up wins in recent months, and after scoring a $300 million order from international shipping giant FedEx and a defense contract with the US military, the company has drummed up another $240 million in Series D funding.
Companies like FedEx and Amazon have been making serious moves to fully electrify their fleet operations, both in an effort to decarbonize and to avoid the every-increasing price of diesel. At $300 million for 2,000 medium-duty electric delivery trucks, Harbinger’s latest deal with FedEx is believed to be one of the largest binding orders for electric medium or heavy-duty trucks in history – and it’s a big enough deal to inspire more than 240 million votes of confidence in the company’s future, one dollar at a time.
“Harbinger exists to challenge what industry has learned to accept, and reinvent the critical systems the world depends on,” said John Harris, the Co-Founder and CEO of Harbinger. “By rethinking critical systems from first principles, we aim to unlock better performance, greater reliability, safer operations, and more room to grow. Electrification is at the core of everything we do, and increasingly, electrification is at the core of industry, defense, mobility, and AI. Harbinger’s role is not simply to give customers another option. It is to reset expectations for what critical systems should deliver.”
Harbinger’s Series D funding round was co-led by Tiger Global, the Capricorn Technology Impact Fund, and Ridgeline. The company says the new funding will support expansion into energy storage systems, power generation, autonomy software, and defense applications, as well as the continued ramp up of its medium-duty platform manufacturing capacity. With this latest round of financing, Harbinger has raised over $650 million since 2021.
As for me, I’m hoping they use the money to come up with more fun, high-octane chase videos that show off their trucks’ performance capabilities. Time will tell.
SOURCE | IMAGES: Harbinger.
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