Harbinger Motors – a Southern California-based automotive manufacturer – recently announced it has secured $60 million in Series A funding from a diverse consortium of investors led by Ridgeline and THOR Industries. Along with Greycroft, Harbinger is also excited to welcome new investors Riverstone Holdings, Acequia Capital, and Squarepoint Capital as contributors to Harbinger’s Series A through deeply-rooted energy, sustainability, transport, and infrastructure-focused investment funds. And each of these investors shares a commitment to sustainability through mobility transformation.
The further investment includes return investors Tiger Global, Kalyani Mobility, Maniv Mobility, Overture, and Ironspring Ventures. In connection with Ridgeline’s investment in Harbinger’s Series A funding round, Ridgeline General Partner and Co-Founder Ryan Clinton will join Harbinger’s Board of Directors on behalf of the Series A investors.
Greycroft – which manages the $137.7 million Greycroft Coca‑Cola System Sustainability Fund – joins a list of notable sustainability, transportation, and infrastructure investment companies in committing to Harbinger’s Series A round. And this investment will accelerate progress toward the production of the company’s innovative electric stripped chassis designed from the ground up to address the unique performance, durability, and lifespan expectations required of Class 4 to Class 6 vehicles. And the company plans to double its workforce over the next year to 120 employees at its recently announced headquarters in Garden Grove, California.
THOR Industries and investment partner TechNexus amplified a joint commitment to electrification by joining the Series A round as a co-lead investor, extending the previously announced partnership between THOR and Harbinger. And the THOR family of recreational vehicle (RV) companies, combined, represent the world’s largest manufacturer of RVs. Through this investment, THOR deepens its collaboration with Harbinger to provide electrification solutions for their motorized RVs.
KEY QUOTES:
“The convergence of support from diverse industries underscores our broader vision and the impact Harbinger Motors aims to achieve. This collective endorsement reaffirms our unwavering commitment to building sustainable transportation solutions and revolutionizing both commercial and specialty vehicles.”
“THOR’s investment enables Harbinger to expand its focus beyond electrifying commercial applications into specialty vehicles. We are excited to grow our relationship with THOR and present a sustainable option for recreational vehicles and the owners who seek quieter, environmentally-friendly alternatives.”
“Harbinger was built from the ground up to help reduce the carbon footprint of last-mile delivery services. Greycroft’s investment through the Greycroft Coca-Cola System Sustainability Fund further validates our focus, reinforcing our commitment to transforming the medium-duty industry with sustainable solutions that make an impact today.”
— John Harris, CEO and Co-Founder, Harbinger Motors
“Rarely do early-stage companies execute on hard problems the way the team at Harbinger has through this milestone. Ridgeline is proud to co-lead this round with THOR. The commitment of the larger strategic investors is an incredible signal that Harbinger is on the cusp of electrifying a key market segment in logistics and transportation. We have complete conviction in the team to continue to execute through volume production.”
— Ryan Clinton, Co-Founder and Managing Partner, Ridgeline
“Harbinger’s focus on the medium-duty chassis market uniquely situates it to be a key partner to THOR. THOR is focused on offering a best-in-class solution for electric RVs, and Harbinger’s chassis will be a key component to our integrated solution. Harbinger’s proprietary technology sets it apart from other manufacturers. Their electric chassis offers game-changing driver experience, safety and vehicle operation. Harbinger is an important partner not only to our electrification strategy but also on our journey to net zero emissions which is an important element of our overall corporate strategy. At THOR, we are very excited about this partnership and what it means for our RV users and for our future.”
— Todd Woelfer, THOR Chief Operating Officer
“We’re excited to collaborate with Harbinger Motors in their mission to deliver immediate, meaningful change through sustainable transportation solutions. Harbinger’s dedication to innovation aligns with the new fund’s vision, and we look forward to partnering with the team as they aim to revolutionize the commercial and specialty vehicle landscape.”
— Dana Settle, Co-Founder and Managing Partner at Greycroft
