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Harbinger raises $240M after expanding into defense

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Harbinger raises $240M after expanding into defense

Electric truck startup Harbinger has raised a $240 million Series D funding round as it expands its portfolio of products, including battery storage and defense applications.

The funding comes almost one year to the day after the Los Angeles-based company announced a $160 million Series C, which included an initial truck order from FedEx. Harbinger has now raised more than $650 million to date, according to Bloomberg News, which first reported the round.

The Series D was co-led by Tiger Global, Capricorn’s “technology impact fund,” and defense-focused firm Ridgeline. FedEx invested again after leading last year’s round, and other repeat investors included Maniv, Greycroft, and Leitmotif, a VC firm backed by Volkswagen. Also investing this time was institutional giant Fidelity Management, which tends to invest in pre-IPO startups. (Harbinger is reportedly weighing going public.)

While it didn’t lead this round, FedEx’s relationship with Harbinger continues to deepen. The shipping giant’s senior vice president of safety and transportation, Paul Melander, has joined Harbinger’s board of directors. FedEx also recently placed its first large order with Harbinger — a deal for 2,000 trucks valued at more than $300 million.

Founded in 2022 by former employees of now-defunct EV startup Canoo and battery company QuantumScape, Harbinger started by focusing making one electric truck chassis. The company has steadily expanded its efforts since. It bought autonomy startup Phantom AI, has begun developing hybrid emergency vehicles, and revealed a driverless hybrid electric platform for the military.

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