Harbinger Scores Another $240M in Latest Investment Round
The new Series D funding follows a $300 million order from FedEx and a defense contract with the US military.
Electric truck maker Harbinger has secured $240 million in Series D funding, marking the latest in a series of significant commercial and governmental wins for the company.
What Happened
The funding round was co-led by Tiger Global, the Capricorn Technology Impact Fund, and Ridgeline. This capital injection brings Harbinger’s total raised since 2021 to over $650 million. The investment follows recent high-profile orders, including a $300 million contract with FedEx for 2,000 medium-duty electric delivery trucks and a separate defense contract with the US military.
Why It Matters
Harbinger states that the new capital will support the expansion of its manufacturing capacity for medium-duty platforms. Additionally, the company plans to use the funds to broaden its scope into energy storage systems, power generation, autonomy software, and defense applications. This move reflects a growing trend among major logistics players like FedEx and Amazon to electrify fleet operations to address decarbonization goals and rising diesel costs.
The Bottom Line
Harbinger continues to scale its operations and diversify its product offerings with substantial financial backing from major investors and major commercial clients.
