Harbinger raises $240M after expanding into defense

In Brief

Electric motortruck startup Harbinger has raised a $240 cardinal Series D backing circular arsenic it expands its portfolio of products, including artillery retention and defence applications.

The backing comes astir 1 twelvemonth to the time aft the Los Angeles-based institution announced a $160 cardinal Series C, which included an archetypal motortruck bid from FedEx. Harbinger has present raised much than $650 cardinal to date, according to Bloomberg News, which first reported the round.

The Series D was co-led by Tiger Global, Capricorn’s “technology interaction fund,” and defense-focused steadfast Ridgeline. FedEx besides invested again aft starring past year’s round, and different repetition investors included Maniv, Greycroft, and Leitmotif, a VC steadfast backed by Volkswagen.

While it didn’t pb this round, FedEx’s narration with Harbinger continues to deepen. The shipping giant’s elder vice president of information and transportation, Paul Melander, has joined Harbinger’s committee of directors. FedEx besides precocious placed its archetypal ample bid with Harbinger — a deal for 2,000 trucks valued astatine much than $300 million.

Founded successful 2022 by erstwhile employees of now-defunct EV startup Canoo and artillery institution QuantumScape, Harbinger started by focusing making 1 electrical motortruck chassis. The institution has steadily expanded its efforts since. It bought autonomy startup Phantom AI, has begun developing hybrid exigency vehicles, and revealed a driverless hybrid electrical platform for the military.

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