Self-driving truck startup Einride raises $113M PIPE ahead of public debut

Swedish self-driving truck startup Einride has raised $113 million in a private investment in public equity (PIPE) round ahead of its planned public debut via a merger with special purpose acquisition company (SPAC) Legato Merger Corp. The deal values Einride at a pre-money valuation of $1.35 billion, down from an earlier $1.8 billion estimate. Including crossover financing and the SPAC’s trust account funds, Einride expects to raise approximately $333 million before redemptions and expenses, with potential for additional capital before closing. The proceeds will be used to advance Einride’s technology, expand globally, and deploy autonomous trucks across North America, Europe, and the Middle East. Einride is known for its autonomous, pod-like electric freight trucks designed without driver cabins. The company currently operates a fleet of 200 heavy-duty electric trucks for clients such as Heineken, PepsiCo, Carlsberg Sweden, and DP World across Europe, North America, and the