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Harbinger Raises $240M Series D, Expands into Defense and Battery Storage
Key points
- Harbinger raised $240 million in Series D funding.
- Total funding for Harbinger now exceeds $650 million.
- Company expanded into battery storage and defense applications.
- FedEx placed a 2,000-truck order and its SVP joined Harbinger's board.
Series D Funding Details
Harbinger, an electric truck startup, completed a $240 million Series D funding round. This new investment increases the company's total funding to over $650 million. The round was co-led by Tiger Global, Capricorn’s “technology impact fund,” and Ridgeline, a defense-focused firm.
Investor Participation
FedEx, which led the previous Series C round, invested again in the Series D. Other returning investors included Maniv, Greycroft, and Leitmotif. Fidelity Management, an institutional investor, also participated in this round, typically investing in pre-IPO startups.
Expanding Product Portfolio
Harbinger is diversifying its offerings beyond electric truck chassis. The company has expanded into battery storage solutions and defense applications. This expansion includes developing hybrid emergency vehicles and a driverless hybrid electric platform for military use.
Deepening FedEx Relationship
The relationship between Harbinger and FedEx continues to grow. Paul Melander, FedEx’s senior vice president of safety and transportation, has joined Harbinger’s board of directors. FedEx also recently placed a significant order for 2,000 trucks, valued at over $300 million.
Company Background
Founded in 2022 by former employees of Canoo and QuantumScape, Harbinger initially focused on a single electric truck chassis. Since then, the company has acquired autonomy startup Phantom AI and broadened its development efforts.
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Reporting from
Electric truck startup Harbinger secured a $240 million Series D funding round, bringing its total raised to over $650 million. The company is expanding its product portfolio to include battery storage and defense applications, with FedEx deepening its involvement through a board seat and a 2,000-truck order.