Einride said it has signed a definitive agreement to go public through a SPAC tie-up with Legato Merger Corp. III, putting a $1.8B pre-money marker on the Stockholm-born company. The announcement lands roughly six weeks after Einride revealed a fresh $100 million capital infusion and reflects the company’s push to scale its electric trucking, autonomous “pod” operations, and logistics-planning software. TechCrunch
According to the companies, the transaction is structured to provide about $219 million in gross proceeds before any redemptions of Legato shares. Einride is also canvassing up to $100 million in PIPE financing to accelerate growth. If regulators sign off and market conditions cooperate, the parties expect the combination to complete in the first half of 2026, after which Einride aims to begin trading on the New York Stock Exchange. TechCrunch
Founded in 2016, Einride began with battery-electric heavy trucks and later rolled out driverless, cab-less “pods” designed for fixed-route freight. Under newly appointed CEO Roozbeh Charli, the company is scaling three lines of business: long-haul electric rigs, autonomous pods, and a shipper software platform. Einride says it now runs ~200 heavy-duty electric trucks across Europe, North America and the UAE for brands such as Heineken, PepsiCo, Carlsberg Sweden and DP World, and reports ~$45M ARR with $65M in contracted ARR. TechCrunch
The move follows a path taken by other AV players that tapped SPACs to access public capital. Aurora listed in 2021 via a $13B merger, and Kodiak AI also chose the SPAC route earlier this year—signs that autonomy and electrification remain capital-intensive bets even as markets scrutinize unit economics.
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