Einride, the Swedish company specialised in autonomous freight technology, has announced that it will go public through a business combination with Legato Merger Corp. III.
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Stockholm-based Einride, a freight technology company providing digital, electric and autonomous shipping for road freight, has announced plans to go public on the NYSE (New York Stock Exchange) through a business combination with Legato Merger Corp at a pre-money equity valuation of $1.8B.
“Today marks a defining moment for Einride and for the future of freight technology,” says 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.”
The transaction aims to create a premier autonomous and electric freight technology platform by merging Einride’s operations in seven countries.
After the transaction, the new company will serve over 25 enterprise customers and manage around 200 electric vehicles, expanding its autonomous services with clients like GE Appliances and Apotea, Sweden’s top online pharmacy.
The announcement comes over a month after raising €85.1M in funding from existing and new investors.
Terms of the transaction
The deal with Legato Merger Corp is expected to generate $219M in gross proceeds before redemptions, expenses, or additional financing.
The Swedish company is also seeking up to $100M in PIPE (private investment in public equity) financing.
The transaction is further strengthened by $100M in crossover capital raised in 2025, backed by existing and new institutional investors, including a global asset management company based on the West Coast of the United States, EQT Ventures, and NordicNinja.
Upon completion, existing Einride shareholders are expected to hold approximately 83 per cent of the combined company, assuming a successful $100M PIPE raise.
Einride’s current management team will continue to lead the business.
The Transaction was unanimously approved by the Boards of Directors of Legato Merger Corp. III and Einride.
The completion of the proposed Transaction is anticipated to occur in the first half of 2026, subject to customary closing conditions, including regulatory approvals.
Strong revenue
Currently, the Company has an annual run-rate revenue of about $45 million and a total of $65 million in customer contracts. This shows strong support from major global transport companies.
Additionally, the Company has identified over $800 million in potential future revenue from its Joint Business Plans, which detail strategies for expanding electric and autonomous services with customers. It also maintains a 99.7% on-time performance rate, demonstrating the reliability and scalability of its operations.
Einride reports a run-rate Annual Recurring Revenue (ARR) of $45M, a contracted ARR base of $65M, and more than $800M in potential long-term ARR through Joint Business Plans with customers.
Contracts typically run 4.5 years under take-or-pay structures, providing predictable revenue and cash-flow visibility.
The company’s AI platform includes planning, routing, energy prediction, charging optimisation, and battery management, enabling customers to reduce fleet-level total cost of ownership by around 13 per cent versus diesel.
Developed automation technology stack
Einride has developed an in-house autonomous technology stack designed for driverless freight operations, allowing customers to transition to these operations at a lower cost.
This software is used in Einride’s cab-less vehicles and can be adapted for various vehicle platforms, enabling additional revenue opportunities in sectors like defence and specialised civilian applications.
Einride was the first company worldwide to obtain permits for cab-less heavy-duty autonomous vehicle operations on public roads, achieving this in Europe in 2019 and the US in 2022, all while maintaining a record of zero traffic incidents.
The company utilises a multi-sensor perception system combining LiDAR, cameras, and radar, which is now an industry standard.
This system, along with motion sensors and GNSS tracking, supports Einride’s dual-path software architecture, featuring a deep learning model for human-like driving and a rule-based system for safety and regulatory compliance.
To date, the announcement comes as the company has achieved success, completing over 1,700 hours of driverless operations, driving more than 11 million electric miles, and finishing over 350,000 shipments.
Einride: Specialised in freight technology solutions
Led by Roozbeh Charli, Einride designs, develops and deploys freight technology solutions to accelerate the transition to future-proofed transportation.
Its platform includes connected electric and autonomous heavy-duty vehicles, charging infrastructure and an intelligent freight operating system.
Founded in 2016, Einride became the world’s first company to operate an autonomous, electric vehicle on a public road in 2019.
Today, Einride operates one of the largest fleets of heavy-duty electric trucks servicing Global Fortune 500 companies across the US, Europe and the UAE.
