Einride AB, a Sweden-based digital, electric, and autonomous freight technology company, announced it will go public through a definitive business combination agreement with Legato Merger Corp. III, a special purpose acquisition company listed on the NYSE under the ticker LEGT. The transaction values Einride at a pre-money equity valuation of $1.8 billion. It is expected to make the company one of the leading autonomous and electric freight technology platforms in the public market.
The combined company will continue to operate under the Einride name and is expected to trade on the NYSE upon closing, anticipated in the first half of 2026. The deal is expected to generate approximately $219 million in gross proceeds before accounting for potential redemptions, transaction expenses, or additional financing. Additionally, Einride is seeking up to $100 million in private investment in public equity (PIPE) capital. The company recently raised an extra $100 million in crossover capital from existing and new institutional investors, including a West Coast global asset management firm, EQT Ventures, and NordicNinja.
Following the closing, existing Einride shareholders are expected to own approximately 83% of the combined company’s equity, assuming the $100 million PIPE is raised. Einride’s current management team will continue to lead the company. The boards of both Legato and Einride have unanimously approved the transaction.
Founded in 2016 and headquartered in Stockholm with U.S. operations based in Austin, Texas, Einride has become a global leader in autonomous and electric freight operations. The company provides dual Freight-Capacity-as-a-Service (FCaaS) and Software-as-a-Service (SaaS) solutions through its proprietary AI-powered platform, enabling end-to-end logistics management for both driver-operated and autonomous heavy-duty electric trucks.
Einride currently serves over 25 enterprise customers across seven countries, including GE Appliances and Apotea, and operates a fleet of approximately 200 electric vehicles. It has achieved over 11 million electric miles, 1,700 driverless hours in customer operations, and 350,000 shipments executed with a 99.7% on-time rate. The company’s contracted annual recurring revenue (ARR) base is $65 million, supported by an additional $800 million in potential long-term ARR through joint business plans with customers.
Einride’s AI-driven planning tools optimize vehicle operations and fleet performance, delivering around 13% reductions in total cost of ownership compared to diesel fleets, along with near 90% energy prediction accuracy. Its long-term customer contracts average 4.5 years and include minimum volume commitments, providing consistent and predictable revenue streams.
Einride’s autonomous vehicle platform is built entirely in-house, featuring a multimodal perception stack that integrates LiDAR, radar, and camera technologies. Its autonomous technology can operate across multiple vehicle platforms and applications, including potential use in defense and specialized civilian sectors. Einride was the first company to receive permits for cab-less heavy-duty autonomous vehicles on public roads, beginning in 2019 in Europe and 2022 in the United States.
Safety and regulatory compliance remain central to the company’s operations. Einride’s proprietary safety framework has been third-party audited, enabling the company to secure permits for autonomous operations in four countries. The company’s regulatory approvals have accelerated in recent years, with approval times reduced from nine months to just weeks.
Einride plans to significantly expand its U.S. footprint to support the country’s growing demand for autonomous freight solutions, investing in research and development, domestic supply chains, and workforce development across logistics and technology hubs. The company’s mission remains focused on creating a cost-efficient, sustainable, and autonomous logistics ecosystem.
KEY QUOTES:
“Today marks a defining moment for Einride and for the future of freight technology. We’ve proven the technology, built trust with global customers, and shown that autonomous and electric operations are not just possible, but better. This Transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers. The foundation is built, the demand is clear, and our focus is on execution and delivering the future of freight.”
Roozbeh Charli, CEO of Einride
“From the start, Einride has been about more than just technology, it has been about transforming an entire industry. Together with Roozbeh and the team, we’ve built a strong foundation and are now well-positioned to execute on that vision and enable an electric and autonomous future for the industry.”
Robert Falck, Founder and Executive Chairman of the Board of Einride
“Our proprietary technology stack, purpose built for autonomous operations, combined with our vessel-agnostic approach, provides significant competitive advantages. With our demonstrated safety record and established ability to operate autonomous vehicles commercially, we are well-positioned to capture the significant market opportunity as the industry transitions to electric and autonomous freight.”
Henrik Green, CTO of Einride
“This transaction with Einride aligns with our vision to bring industry-leading, innovative technology to the public markets. Einride’s proven customer relationships, regulatory achievements, and technology platform position the Company to be a leader in the transformation of the freight industry. We believe that the market fundamentals are strong, the timing is right, and Einride has the operational excellence to capitalize on this massive shift in how goods move around the world.”
Eric Rosenfeld, Chief SPAC Officer of Legato Merger Corp. III
