Electric truck startup Harbinger raised $240 million and is moving into defense, a sign that big fleet buyers like FedEx are backing electric trucks.
Harbinger, a Los Angeles startup that builds electric trucks, has raised $240 million in a Series D round. That is a late-stage funding round where investors buy a stake in the company. The money comes as Harbinger widens its work beyond delivery trucks to include battery storage and defense products.
Harbinger has now raised more than $650 million in total, according to Bloomberg News, which first reported the round. The new round was co-led by Tiger Global, Capricorn's technology impact fund, and Ridgeline, a defense-focused firm. FedEx invested again, as did Maniv, Greycroft and Leitmotif, a firm backed by Volkswagen.
FedEx is getting closer to the company. It recently placed its first large order: 2,000 trucks worth more than $300 million. Paul Melander, FedEx's senior vice president of safety and transportation, has also joined Harbinger's board of directors.
Harbinger was founded in 2022 by former employees of Canoo, an electric vehicle startup that is now defunct, and QuantumScape, a battery company. It began by making a single electric truck chassis, which is the frame a truck is built on. Since then it bought an autonomy startup called Phantom AI, started developing hybrid emergency vehicles, and revealed a driverless hybrid electric platform for the military.
The report does not say how Harbinger will split the new money between trucks and defense work. It also does not give a delivery schedule for the FedEx trucks or name any military customers.
A major shipper has put real money and a board seat behind Harbinger, so electric delivery trucks are worth watching if your business depends on fleets.
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