Electric truck startup Harbinger raises $240 million in Series D round

Electric truck startup Harbinger has raised a $240 million Series D round, TechCrunch Startups reports, citing Bloomberg News, which first reported the deal. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗ The Los Angeles-based company is expanding its portfolio, including battery storage and defense applications. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗ The round came almost one year after its $160 million Series C, which included an initial truck order from FedEx. According to Bloomberg News, Harbinger has now raised more than $650 million. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗

Investors and FedEx

The Series D was co-led by Tiger Global, Capricorn's technology impact fund and defense-focused firm Ridgeline. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗ FedEx, which led the previous round, invested again. Repeat investors included Maniv, Greycroft and Leitmotif, a venture firm backed by Volkswagen. Fidelity Management, which tends to invest in pre-IPO startups, also took part. Harbinger is reportedly weighing going public.

FedEx's relationship with the company is deepening. Paul Melander, FedEx senior vice president of safety and transportation, has joined Harbinger's board of directors. FedEx also recently placed its first large order with Harbinger: 2,000 trucks valued at more than $300 million. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗

Product expansion

Harbinger was founded in 2022 by former employees of the now-defunct EV startup Canoo and the battery company QuantumScape. It started by making a single electric truck chassis. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗ Since then it has bought an autonomy startup, begun developing hybrid emergency vehicles and revealed a driverless hybrid electric platform for the military. techcrunch.comTechCrunch Startupstechcrunch.comOpen source ↗