Einride, a Leading Digital, Electric and Autonomous Freight Technology Company, to Go Public
- barboraarendasova
- Nov 14
- 3 min read
Einride AB , a technology company driving the transition to electric and autonomous freight operations for some of the world's largest shippers, and Legato Merger Corp. III (NYSEAMERICAN: LEGT), a special purpose acquisition company, announced today that they have entered into a definitive business combination agreement for a proposed business combination that would result in Einride becoming a NYSE-listed public company.
The Transaction is expected to create the public market's premier autonomous and electric freight technology platform, combining Einride's technology platform and operational expertise across seven countries with proven commercial traction and leadership in autonomous vehicle deployments. Upon closing, the combined company is expected to continue its operations with more than 25 enterprise customers, manage and grow its current fleet of approximately 200 electric vehicles, and advance scaling autonomous deployments with customers that today include GE Appliances and Apotea, Sweden’s leading online pharmacy.
Business Overview
Founded in 2016 and headquartered in Stockholm, Sweden, Einride has established itself as a leading technology company helping global customers to cost-efficiently transition their logistics to electric and autonomous technology. Einride's business model centers on a dual Freight-Capacity-as-a-Service (FCaaS) and Software-as-a-Service (SaaS) approach through its proprietary AI powered platform, which orchestrates the entire ecosystem required for electric and autonomous operations. Under its FCaaS model, Einride provides end-to-end freight services for both driver operated heavy-duty commercial electric trucks and heavy-duty autonomous electric trucks. Through its SaaS offering, Einride can license its technology platform to third parties, including both the operational planning AI software and Einride’s proprietary autonomous driving system, creating multiple revenue streams and scalability pathways.
As a global leader in autonomous freight mobility, Einride is expanding its American footprint to better serve its strong base of U.S customers. Currently, the United States represents the Company’s second largest market and the Company plans to continue to invest in the United States over the coming years to accelerate deployment of its autonomous systems, establish domestic hardware supply chains, bolster R&D efforts, and create jobs across key logistics and technology hubs, thereby delivering lasting value for American partners, customers, and communities alike.
The Company has demonstrated top-tier commercial traction with over 1,700 driverless hours in contracted customer operations, over 11 million electric miles driven, and over 350,000 executed shipments, which position it to be a clear market leader in electric and autonomous freight deployment. With a current run-rate ARR of approximately $45 million and a total contracted base of $65 million ARR in signed customer contracts, Einride has achieved strong commercial validation with a customer base of blue-chip global transport buyers. Additionally, the Company has a base of more than $800 million of potential long term ARR within its Joint Business Plans, which are detailed scaling plans with customers for the continued expansion of electric and autonomous deployments. The Company's operational excellence is evidenced by its 99.7% on-time performance rate, which showcases both the reliability and scale of its electric freight operations.
“Today marks a defining moment for Einride and for the future of freight technology,” said Roozbeh Charli, CEO of Einride. “We’ve proven the technology, built trust with global customers, and shown that autonomous and electric operations are not just possible, but better. This Transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers. The foundation is built, the demand is clear, and our focus is on execution and delivering the future of freight.”
"This transaction with Einride aligns with our vision to bring industry-leading, innovative technology to the public markets," added Eric Rosenfeld, Chief SPAC Officer of Legato. "Einride's proven customer relationships, regulatory achievements, and technology platform position the Company to be a leader in the transformation of the freight industry. We believe that the market fundamentals are strong, the timing is right, and Einride has the operational excellence to capitalize on this massive shift in how goods move around the world."
The Transaction values Einride at $1.8 billion in pre-money equity value and is expected to generate approximately $219 million in gross proceeds before accounting for potential redemptions of Legato’s public shares, transaction expenses and any further financing. Additionally, the Company is seeking up to $100 million of private investment in public equity (“PIPE”) capital to accelerate growth. As announced previously, the transaction is further supported by $100 million in crossover capital raised by Einride during 2025 from existing and new institutional investors including a global asset management company based on the West Coast of the United States, EQT Ventures, and NordicNinja.
Image source: einride.tech