Autonomous Truck Startup Einride Plans U.S. IPO via SPAC Deal

In Focus

• Swedish self-driving trucks startup Einride plans to list on the NYSE
• Einride will list through a SPAC deal with Legato Merger Corp
• The merger implies a $1.8 billion pre-money equity valuation

Swedish autonomous truck startup Einride plans to list on the New York Stock Exchange through a merger with special purpose acquisition company Legato Merger Corp. According to TechCrunch, Einride’s SPAC deal values the startup at $1.8 billion.

What Does Einride’s SPAC Listing Mean?

The merger between Legato and Einride is expected to close in the first half of 2026, with Einride expected to make its debut on the NYSE around the same time.

Einride’s 2026 public listing is expected to generate $219 million in gross proceeds (before redemption of Legato Merger’s public shares).

The Swedish autonomous truck startup also plans to raise additional capital of up to $100 million through private investment in public equity (PIPE).

Einride has a strong presence in the U.S., with its American headquarters located in Austin, Texas. The autonomous driving firm said currently, its annual recurring revenue run rate is approximately $45 million. The company’s total contracted base stands at $65 million.

Einride’s Gradual Growth and Expansion

Einride is on a mission to transform the freight industry with its electric trucks and autonomous electric pods. Autonomous pods are vehicles designed for self-driving; they do not have steering wheels or pedals.

Founded in 2016, the Swedish startup has a fleet of 200 electric trucks. Einride runs operations for large companies like PepsiCo, DP World, Carlsberg Sweden, and Heineken across North America, Europe, and the United Arab Emirates.

Einride autonomous trucking startup is currently focused on scaling three main business lines, namely autonomous pod-like trucks for fixed routes, electric big rigs, and planning software.

The self-driving startup uses autonomous pod-like trucks for customers like GE Appliances in the U.S. and Apotea in Sweden. In the U.S., Einride competes with Waabi, which has partnered with Volvo to scale production of self-driving trucks.

A Sneak Preview of Einride’s IPO Plans

• Einride will raise $219 million through IPO
• The startup will debut the NYSE in H1 of 2026
• Swedish firm will raise $100 million through PIPE

Einride’s Previous Financing Rounds

The announcement about Einride’s IPO plans comes six weeks after the startup raised $100 million from investors, including EQT Ventures. The funding was meant to fast-track deployment of Einride’s autonomous freight technology.

Einride follows in the footsteps of other self-driving firms that have raised capital through SPAC mergers. Aurora, which unveiled a self-driving truck in partnership with Volvo in May 2024, went public through a SPAC merger in 2021 at a $13 billion valuation.

In 2022, the self-driving startup raised $500 million in a Series C funding round that combined debt and equity. The $200 million equity-based portion was backed by various investors, including EQT Ventures and the Swedish pension fund AMF. The startup secured $300 million in debt financing led by Barclays Europe.