Harbinger raises $240M Series D as it expands into defense
Electric truck startup Harbinger has closed a $240 million Series D, bringing its total funding past $650 million as it moves into defense and emergency vehicles.
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giftdetect· the right gift in minutesElectric truck startup Harbinger has raised a $240 million Series D round, as the Los Angeles company widens its product line to include battery storage and defense applications. Total funding now exceeds $650 million.
The round arrives almost exactly a year after Harbinger announced a $160 million Series C that included an initial truck order from FedEx. Tiger Global, Capricorn's technology impact fund and defense-focused investor Ridgeline co-led the new financing. FedEx, which led the previous round, invested again, as did Maniv, Greycroft and Leitmotif, a venture firm backed by Volkswagen. Fidelity Management, an investor that typically backs startups before an IPO, also joined. Harbinger is reportedly weighing a public listing.
FedEx ties deepen
FedEx did not lead this time, but its relationship with the startup is growing closer. Paul Melander, the shipper's senior vice president of safety and transportation, has joined Harbinger's board of directors. FedEx also recently placed its first large order: 2,000 trucks valued at more than $300 million.
From one chassis to a broader portfolio
Harbinger was founded in 2022 by former employees of the now-defunct EV company Canoo and battery maker QuantumScape. It began by building a single electric truck chassis, and has since steadily broadened its scope. The company acquired autonomy startup Phantom AI, started developing hybrid emergency vehicles and unveiled a driverless hybrid-electric platform for the military.
The new capital signals investor appetite for commercial electric vehicles that go beyond fleet delivery, particularly where defense demand is growing. For Harbinger, the large FedEx order provides a sizable base of revenue while it develops these newer lines. The company's reported interest in going public suggests this round could be one of its last private raises, though no timeline has been confirmed.
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