Home / Business and Economy / Einride Goes Public: Electric Truck IPO Surges 74%
Einride Goes Public: Electric Truck IPO Surges 74%
13 Jun
Summary
- Einride's Nasdaq debut saw its stock surge over 74% initially.
- The company merged with Legato Merger Corp. III at $1.35 billion.
- Einride's business includes Freight-as-a-Service and fleet optimization.
Swedish electric and autonomous freighter company Einride has now become publicly traded on the Nasdaq following a business combination with Legato Merger Corp. III. This transaction closed at a pre-money equity value of approximately $1.35 billion, incorporating revised terms agreed upon before completion.
The company's market debut on the Nasdaq saw its stock price increase by more than 74%. Einride operates with a dual-business model, offering Freight-as-a-Service (FaaS) and SaaS fleet optimization solutions. As of the current reporting period, the company has not yet achieved profitability, with full-year 2025 revenue reported at SEK 457.8 million and a net loss of approximately SEK 1.72 billion.
Einride secured $113 million in PIPE financing as part of the SPAC merger to bolster its balance sheet and support expansion. Proceeds from the merger and PIPE raise will be used to scale fleet operations, enhance logistics through an AI system, and further develop its autonomous driving capabilities. The company previously reported over $800 million in long-term ARR.
