Einride, a Swedish autonomous trucking technology company, has planned a US listing valuing the business at $1.8bn.
The listing will occur through a merger with special purpose acquisition company (SPAC) Legato Merger Corp III.
The deal is expected to generate about $219m in gross proceeds before redemptions, costs, or additional financing, alongside a targeted $100m private investment in public equity.
It is also supported by $100m in previously raised crossover funding from existing and new investors, including a West Coast global asset manager, EQT Ventures, and NordicNinja.
Founded in 2016 and headquartered in Stockholm, with US headquarters in Austin, Einride helps global shippers transition to electric and autonomous logistics.
Its model pairs Freight-Capacity-as-a-Service (FCaaS) with software-as-a-service (SaaS), using an artificial intelligence (AI) platform to manage electric and autonomous operations end-to-end.
FCaaS provides freight services using both driver-operated and autonomous heavy-duty electric trucks, while its SaaS licenses planning software and a proprietary autonomous driving system.
The US, Einride’s second-largest market, remains a focus for investment in autonomous deployments, domestic supply chains, R&D, and job creation, supported by favourable policy and a strong ecosystem, according to the group.
Einride CEO Roozbeh Charli said: “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.”
Post-merger, the combined company plans to continue serving more than 25 enterprise customers, manage and grow its roughly 200-vehicle EV fleet, and scale autonomous programmes with partners such as GE Appliances and Apotea.
Einride’s current leadership will remain in place.
Both boards have unanimously approved the transaction, which is expected to close in the first half of 2026, subject to regulatory approvals.
Upon completion, existing Einride shareholders are expected to own about 83% of the combined company.
Legato chief SPAC officer Eric Rosenfeld added: “Einride's proven customer relationships, regulatory achievements, and technology platform position the Company to be a leader in the transformation of the freight industry.
“We believe that the market fundamentals are strong, the timing is right, and Einride has the operational excellence to capitalise on this massive shift in how goods move around the world.”
