Harbinger raises $240M after expanding into defense
Los Angeles-based startup secures funding led by Tiger Global, Capricorn, and Ridgeline as FedEx deepens partnership with 2,000-truck order
Quick Look
- Electric truck startup Harbinger raised a $240 million Series D round co-led by Tiger Global, Capricorn’s technology impact fund, and defense-focused Ridgeline.
- The Los Angeles-based company has now raised over $650 million to date.
- FedEx, a repeat investor, joined Harbinger’s board with senior vice president Paul Melander and placed a first large order for 2,000 trucks valued at more than $300 million.
AI-generated summary
Why It Matters
Harbinger announced a $160 million Series C almost one year ago, which included an initial truck order from FedEx. The company has now raised more than $650 million to date.
Electric truck startup Harbinger has raised a $240 million Series D funding round as it expands its portfolio of products, including battery storage and defense applications.
The funding comes almost one year to the day after the Los Angeles-based company announced a $160 million Series C, which included an initial truck order from FedEx. Harbinger has now raised more than $650 million to date, according to Bloomberg News, which first reported the round.
The Series D was co-led by Tiger Global, Capricorn’s “technology impact fund,” and defense-focused firm Ridgeline. FedEx also invested again after leading last year’s round, and other repeat investors included Maniv, Greycroft, and Leitmotif, a VC firm backed by Volkswagen.
While it didn’t lead this round, FedEx’s relationship with Harbinger continues to deepen. The shipping giant’s senior vice president of safety and transportation, Paul Melander, has joined Harbinger’s board of directors. FedEx also recently placed its first large order with Harbinger — a deal for 2,000 trucks valued at more than $300 million.
What to Watch
AI outlook — possibilities, not facts
Harbinger will expand its battery storage and defense product portfolio using the Series D capital
Likely · Within months
FedEx will continue to deepen its relationship with Harbinger beyond the initial 2,000-truck order
Possible · Within months
Open Questions
- What specific defense applications is Harbinger developing?
- What is Harbinger's current valuation?
- When will the FedEx 2,000-truck order be delivered?
