Einride closes US$113m raise ahead of NYSE listing

Einride and Legato Merger Corp. III have announced an oversubscribed private investment in public equity (PIPE) financing of approximately US$113m in support of their proposed business combination. The PIPE financing was committed by new and existing investors including Stockholm-based EQT Ventures and a US-based global asset management company.

The financing brings total investor commitments to approximately US$213m in connection with the transaction, including a previously announced crossover financing of approximately US$100m. The transaction values Einride at a pre-money equity value of US$1.35bn and is expected to deliver approximately US$333m in gross proceeds.

In a statement, Roozbeh Charli, Chief Executive of Einride, said: “This PIPE reflects strong investor confidence in Einride’s mission to transform global freight through autonomous and electric technology. With this additional capital, we believe we are well positioned to scale our commercial deployments of electric and autonomous freight solutions with both existing and new customers.”

Proceeds from the PIPE are expected to support Einride’s technology roadmap and global expansion, including autonomous deployments across North America, Europe and the Middle East. Subject to shareholder and regulatory approvals, the combined company expects to list on the New York Stock Exchange during the first half of 2026 under the ticker symbol “ENRD”.

Source: Einride