Bucking a trend where venture capital spending has nosedived, Swedish autonomous electric freight transport developer Einride announced it won a stunning new round of investments.
, global venture funding declined 34% from the second to third quarters this year to $74.5 billion—the largest quarterly drop in a decade.
He stresses VC investors' confidence in Einride is in large part based on the Swedish company's resistance to hype in favor of under-promising and over-performing. Indeed, an executive at the bank providing the $300 million debt facility said its willingness to back Einride is based on confidence in the company's technology, environmental philosophy and management.
The Einride autonomous electric transport called a Pod, operates without a driver and does not even have a space for one. It is monitored by a specially-trained remote driver who can take control if necessary. Einride Saga is its platform for managing electric and autonomous fleets, charging infrastructure and connectivity networks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Einride Bucks Tide, Wins Half-Billion FinancingBucking a trend where venture capital spending has nosedived, Swedish autonomous electric freight transport developer Einride announced it won a stunning new round of investments.
Read more »
Bahama Bucks is giving away shaved ice on Tuesday for ‘Free Sno Day’Bahama Bucks is celebrating “the Coolest Day of the Year” by giving guests free shaved ice.
Read more »
‘Goo Goo’ Bucks: What a ‘Wednesday’ Synch Is Worth for The CrampsThe psychobilly classic hasn’t gone full Kate Bush yet, but streaming royalties are way up.
Read more »
Committee sends rodeo ban to LA City CouncilThe ordinance passed by the council’s Personnel, Audits and Animal Welfare committee bans the use of electric prods, shocking devices, flank or bucking straps, wire tiedowns, sharpened or fix…
Read more »
Park Rangers Are Using Silent Ebikes to Catch PoachersThe nearly silent motor of the ebike—a factor that can make people an accident risk in the busy city—has become the surprise secret weapon for saving the world’s most endangered species.
Read more »
Polestar Is Working With Allebike To Develop Its First Electric BicyclePolestar, a popular electric car manufacturer from Sweden, is set to develop its first electric bicycle with fellow Swedish bike maker Allebike.
Read more »