Einride Secures $113 Million PIPE to Support SPAC Deal and Global Expansion

New updates have been reported about Einride.

Einride has raised approximately $113 million in an oversubscribed PIPE to back its previously announced merger with Legato Merger Corp. III, materially increasing the capital available to fund its transition to public markets. Combined with an earlier $100 million crossover round, Einride now has about $213 million in committed financing tied to the SPAC transaction, with proceeds earmarked for its technology roadmap and international rollout of electric and autonomous freight operations.

The deal implies a pre-money equity valuation of $1.35 billion for Einride and is expected to generate roughly $333 million in gross proceeds, including $220 million from Legato’s cash-in-trust before redemptions and expenses, with the parties also considering additional capital at closing. Einride plans to use the funding to accelerate autonomous deployments in North America, Europe, and the Middle East, expand commercial use of its intelligent freight platform, and support scaling of its heavy-duty electric fleet, while targeting a New York Stock Exchange listing in the first half of 2026 under the ticker ENRD, subject to regulatory, shareholder, and closing conditions.