Harbinger raises $240M after expanding into defense

Electric truck maker Harbinger has raised 240 million dollars in a new funding round. The Los Angeles company says the money will support battery storage and defence products as well as trucks. The round comes almost a year after a 160 million dollar Series C. Harbinger has now raised more than 650 million dollars in total. FedEx invested again and now has a seat on the company's board.

Harbinger was founded in 2022 by former staff of electric van startup Canoo and battery firm QuantumScape. It started with a single electric truck chassis and has since bought the autonomy startup Phantom AI. It is also building hybrid emergency vehicles and a driverless hybrid platform for the military. FedEx has ordered 2,000 trucks in a deal worth more than 300 million dollars. Reports say Harbinger is weighing going public.

Electric trucks cut diesel use and running costs, so investors are betting delivery fleets will keep moving away from fossil fuel.