German autonomous electric trucking pioneer Fernride raises an additional $19 million in funding, propelling its Series A round to $50 million, as it continues to revolutionise yard trucking operations and tackle driver shortages in the industry.
Fernride, a German autonomous electric trucking company, recently announced an additional $19 million in funding for its Series A round, bringing the total raised to $50 million. The company specialises in scalable automation solutions for yard shunting, offering a blend of human-assisted technology for remote-controlled operations. Fernride’s unique approach involves deploying driverless operations on private land, providing customers with the advantages of autonomous operations from day one. This strategy has already attracted partnerships with industry giants like Volkswagen, DB Schenker, and HHLA.
The recent investment round includes support from Germany’s Deep Tech and Climate Fonds (DTCF), Munich Re Ventures, Bayern Kapital, and Klaus Kleinfeld, who also serves as Chairman of Fernride’s board. These strategic investors bring expertise in insurance and government relations, valuable for navigating the regulatory landscape for autonomous vehicles.
Fernride’s incremental approach to autonomy has garnered attention and support from the venture capital community. The company’s dedication to partnering with key industry players and its focus on technology innovation position it well for future growth. With over 130 employees based in Munich and Wolfsburg, Fernride is on a path to becoming a global technology leader in the field of autonomous electric trucking. As the company continues to grow, it faces the enviable challenge of managing high demand from potential partners and customers in an industry ripe for innovation.