Einride is a startup that announced recently that it has raised $110M in funding to support the rollout of its autonomous freight vehicles. Einride plans to develop vehicles without driver cabins. It also promises to decrease shipping-associated carbon emissions by more than 90%. In case you don’t know, Einride is a Sweden-based company. einride 110m seriesdeutschersiliconangle
It is the creator of the Einride Pod. The Einride Pod is an electric freight transportation vehicle that relies heavily on artificial intelligence. Einride is of the view that this AI-based freight vehicle can assist organizations to decrease their overall impact on the environment. The vehicle has already drawn interest from some prominent names in the industry like Electrolux, Coca-Cola, etc.
Each Einride Pod comes with a capacity of 18 pallets. These 18 pallets are capable of transporting cargo over 100 miles. Organizations can rely on the Pods made by Einride to transport goods in areas that aren’t open to public traffic. In the upcoming years, Einride plans to add more support to the complex routes. The $110M funding is aimed at improving the overall efficiency of Einride. It will allow the startup to globalize its operations.
The newly raised capital will also help Einride to expand its engineering operations. In the past, Einride has managed to raise only $42M. Within just a few years, Einride has managed to introduce two new generations of autonomous vehicles.
The newest development of Einride, runs its AI driving algorithms on an Orin-system chip. Moreover, it boasts of 17 billion transistors. However, the market domain where Einride is based comprises a lot of potential players. Therefore, it will be interesting to see how Einride utilizes its funds to stay relevant.