Sweden’s Einride Secures $10 Million To Expand Portfolio

Sweden-based Einride has recorded yet another milestone as it secured a fresh $10 million. According to press, the new raiser was closed from existing investors. Analysts noted that for the past four years, Swedish startup Einride has captured interest, investment and even a few customer contracts for its unusual-looking pods — electric and autonomous vehicles that are designed to carry freight. Although, the company noted that progress in developing, testing and validating autonomous vehicles — particularly ones that don’t even have space for a driver and rely on teleoperations — is an expensive and time-consuming task.

Industry insights revealed that the announcement comes ahead of a new vehicle the Einride will unveil October 8. Not much is known about the vehicle as Einride has only supplied a short and obscure teaser video. According to Einride, the $10 million in new funding was led by impact fund Norrsken VC and included participation from EQT Ventures fund, Nordic Ninja VC and Ericsson Ventures. Norrsken VC is also joining Einride’s advisory board. The capital will be used to fast track the official launch of its Einride Pods, the company said.

Living and working in Omaha, Nebraska, Buffett was nicknamed the “Oracle or Oracle of Omaha” due to his investment selections. Warren Edward Buffett is an American investor, business tycoon, and philanthropist, who is the chairman and CEO of Berkshire Hathaway.

He is considered one of the most successful investors in the world and has a net worth of US$71.8 billion as of July 2020, making him the fourth-wealthiest person in the world.

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