Electric truck startup Harbinger has secured $240 million in a Series D funding round as the company broadens its product portfolio to include battery storage and defense applications.
Funding Milestone and Growth
This capital infusion arrives nearly a year after the Los Angeles-based manufacturer announced a $160 million Series C round, which featured an initial truck order from FedEx. With this latest round, Harbinger has successfully raised upwards of $650 million in total funding to date.
Key Investors and Backing
The Series D financing was co-led by Tiger Global, Capricorn's technology impact fund, and defense-focused investment firm Ridgeline. FedEx participated as a repeat investor after leading the previous year's round, alongside returning backers Maniv, Greycroft, and Volkswagen-backed venture capital firm Leitmotif.
Deepening Partnership With FedEx
Although FedEx did not lead the current round, its operational ties with the startup continue to strengthen. Paul Melander, the shipping corporation's senior vice president of safety and transportation, has taken a seat on Harbinger's board of directors. Furthermore, FedEx recently placed a landmark order for 2,000 electric trucks valued at over $300 million.
Corporate Evolution and Portfolio Expansion
Launched in 2022 by industry veterans from former EV enterprise Canoo and battery manufacturer QuantumScape, Harbinger initially centered its efforts on building a single electric truck chassis. The enterprise has since diversified significantly through strategic acquisitions and product development, including purchasing autonomous driving company Phantom AI, working on hybrid emergency vehicles, and unveiling an unmanned hybrid electric platform tailored for military use.
