Germany-based FERNRIDE, a pioneering name in autonomous trucking, has successfully concluded its Series A funding round by securing an additional $19M. This brings the total fund raised to a remarkable $50M.
Why It Matters
FERNRIDE is at the forefront of revolutionizing logistics through its cutting-edge human-machine collaboration technology. With a vision to champion automated and sustainable logistics, this fresh injection of capital further propels FERNRIDE as a dominant force in autonomous, electric trucking.
Key Points
- Investor Engagement: The increased funding is a result of the robust investor interest following FERNRIDE’s initial Series A announcement.
- Prominent New Investors: Notable new stakeholders include Germany’s Deep Tech and Climate Fonds (DTCF), a $1BN fund backed by Germany’s “Future Fonds” and the ERP special fund. Also joining are San Francisco’s Munich Re Ventures, Bayern Kapital, and Klaus Kleinfeld, who is set to take the pivotal role of Chairman on FERNRIDE’s board.
- Existing Supporters: The company continues to have the backing of esteemed venture capitals like 10x Founders, Promus Ventures, Fly Ventures, and others. Corporate patrons such as HHLA Next, DB Schenker via Schenker Ventures, and Krone remain steadfast in their support.
- Strategic Partnerships: FERNRIDE’s innovation has attracted collaborations with industry giants like Volkswagen, DB Schenker, and HHLA.
Bottom Line
The impressive $50M Series A close underscores FERNRIDE’s potential and vision to lead in the autonomous electric trucking sector. Driven by a blend of unique human-assisted autonomy and strategic industry partnerships, FERNRIDE is poised to shape the future of sustainable, autonomous logistics. As they gear up to utilize this significant capital, the primary focus remains on fortifying their leadership stance in autonomous trucking, ensuring worker safety, and championing an eco-friendly global supply chain era.
