Einride, a Leading Digital, Electric and Autonomous Freight Technology Company, to Go Public via a Business Combination with Legato Merger Corp. III at a $1.8 Billion Valuation
Sweden-based Einride, a leader in autonomous and electric freight technology, is going public via a $1.8 billion merger with Legato Merger Corp. III, securing $219 million in gross proceeds and aiming to scale operations across seven countries with over 25 enterprise customers, including GE Appliances and Apotea. The company’s AI-driven platform and 200-vehicle fleet will expand U.S. operations in Austin, Texas, leveraging regulatory permits and a $65 million ARR base to accelerate autonomous freight deployments globally.
Einride, a Sweden-based developer of autonomous and electric freight technology, will go public through a business combination with Legato Merger Corp. III, valuing the company at $1.8 billion. The merger will provide Einride with approximately $219 million in gross proceeds before expenses and financing, while also securing an additional $100 million in private investment in public equity (PIPE) capital. The transaction is backed by $100 million in crossover capital from institutional investors, including EQT Ventures and NordicNinja, solidifying its expansion plans. Founded in 2016 and headquartered in Stockholm, Einride operates in seven countries with over 25 enterprise customers, including GE Appliances and Apotea, Sweden’s leading online pharmacy. The company’s dual Freight-Capacity-as-a-Service (FCaaS) and Software-as-a-Service (SaaS) model leverages proprietary AI technology to orchestrate electric and autonomous freight operations. Einride’s fleet currently comprises around 200 electric vehicles, with a contracted annual recurring revenue (ARR) base of $65 million and over $800 million in potential long-term ARR through customer partnerships. The U.S. market is a key focus for Einride, which has established a headquarters in Austin, Texas, to accelerate autonomous freight deployments. The company plans to invest in domestic hardware supply chains, R&D, and job creation across logistics and technology hubs. Regulatory permits in both the U.S. and Europe support its expansion, positioning Einride as a leader in the $4.6 trillion global road freight market. Upon closing, Einride will become a publicly listed company on the New York Stock Exchange (NYSE), combining its technology platform with operational expertise to scale autonomous and electric freight solutions. The transaction underscores Einride’s commitment to transitioning logistics toward cost-efficient, autonomous operations while maintaining a strong customer base and revenue growth trajectory.
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