Einride, the Swedish startup identified for its unusual-looking electrical and autonomous pods which can be designed to hold freight, stated Wednesday it has raised $100 million from a number of new and current traders, together with its largest shareholder, EQT Ventures.

The increase included an undisclosed strategic funding from quantum computing firm IonQ. Neither Einride, nor its traders, disclosed the corporate’s post-money valuation.

The funding comes as Einride adjusts to a brand new CEO and tries to scale its three enterprise merchandise: electrical massive rigs, autonomous pod-like vehicles that navigate fastened routes, and planning software program designed for shippers. Einride CEO Roozbeh Charli stated the funding would permit the corporate to develop with its buyer base and speed up the deployment of its autonomous freight expertise.

The corporate, which was based in 2016, began in Sweden with a mission to disrupt the freight trade — first with electrical vehicles, then with electrical autonomous pods, that are purpose-built with no steering wheel or pedals for self-driving.

Einride has expanded past Sweden and operates a fleet of professional quality electrical vehicles in Europe, North America, and the UAE, for corporations like PepsiCo, Carlsberg Sweden, and DP World. The corporate has made some inroads with its autonomous pod-like vehicles with prospects Apotea in Sweden and GE Home equipment in the USA.

“We imagine Einride is constructing probably the most full and forward-looking freight ecosystem available on the market right this moment,” Ted Persson, accomplice at EQT Ventures, stated in a press release. “Nordic tech has a behavior of being underestimated, till it quietly rewires a complete trade. That’s precisely what Einride is doing in freight.”

Nonetheless, Einride has undergone inner adjustments and has grappled — together with the remainder of the nascent autonomous automobile expertise sector — with the lengthy and costly technique of shifting from growth to business operations.

5 months in the past, Einride co-founder Robert Falck left the CEO position and took over as govt chairman of the board to give attention to the corporate’s long-term technique. Charli, who had been CFO, was promoted to the highest management place.

The corporate beforehand raised $500 million in 2022 in a Sequence C spherical of fairness and debt. The equity-based $200 million portion got here from backers together with Northzone, EQT Ventures, Temasek, Swedish pension fund AMF, Polar Construction, and Norrsken VC. It additionally secured $300 million in debt funding led by Barclays Europe.