Einride to go public via business combination
Swedish autonomous and electric freight technology company Einride has announced a definitive business combination with Legato Merger Corp. III, valuing the company at $ 1.8 bn pre-money. The transaction aims to strengthen Einride's position in the $ 4.6 tn global road freight market, leveraging its proven technology, regulatory permits, and over 25 enterprise customers across seven countries.
With a current annual recurring revenue (ARR) of approximately $ 65 m and potential long-term ARR exceeding $ 800 m, Einride's dual EV/AV platform and AI systems aim to revolutionise freight operations. The deal is expected to raise about $ 219 m in gross proceeds, with up to $ 100 m in PIPE funding, and is anticipated to complete in the first half of 2026, making Einride an NYSE-listed company.