Einride secured an oversubscribed $113,000,000 PIPE to support a proposed business combination with Legato Merger Corp. III. Combined capital committed in connection with the transaction is approximately $213,000,000, which includes an earlier $100,000,000 crossover financing. The proposed transaction values Einride at a pre-money equity value of $1,350,000,000. If completed, the deal is expected to deliver around $333,000,000 in gross proceeds, including the $113,000,000 PIPE and approximately $220,000,000 in cash held in Legato's trust account (before redemptions and transaction costs). The combined company plans a NYSE listing in H1 2026 under ticker ENRD.
About Einride
Swedish tech scale-up developing digital, electric and autonomous freight solutions: AI-based planning and optimization, autonomous vehicle technology, and a large electric heavy-duty vehicle fleet with charging infrastructure. Focuses on software and operations rather than manufacturing its own trucks.
Stockholm, Sweden
Read Company ProfileFrequently Asked Questions
What type of funding round did Einride raise?
Einride raised a bridge round.
How much did Einride raise in its bridge?
Einride raised $113,000,000 USD in its bridge.
When did Einride raise its bridge?
Einride raised its bridge on 2026-02-26.
What was Einride's valuation before the bridge?
Einride was valued at $1,350,000,000 USD before the bridge.
Who invested in Einride's bridge?
The investors in Einride's bridge are: Legato Merger Corp. III, EQT Ventures, Global asset management firm (US West Coast, unnamed).
What type of investment was Einride's bridge?
Einride's bridge was a equity investment.
How will Einride use the funds from its bridge?
Einride plans to use the funds for: accelerate technology roadmap, autonomous freight deployments across North America, Europe, and the Middle East, expansion of intelligent freight platform, broader commercial applications of digital logistics system, invest in automated driving system.