Germany-based autonomous trucking company FERNRIDE has closed a further US$19 million in its Series A funding, pushing the total round amount to US$50 million.
Therefore, the firm aims to strengthen its focus on advancing the transition towards automated and sustainable logistics.
According to FERNRIDE, driven by high investor interest, the second closing comes just weeks after FERNRIDE’s initial Series A announcement.
New investors include Germany’s Deep Tech and Climate Fonds (DTCF), a US$1 billion venture fund financed via Germany’s “Future Fonds” and the ERP special fund and created to drive the growth of deep tech and climate companies in Germany and Europe, alongside San Francisco-based Munich Re Ventures, Bayern Kapital, and Klaus Kleinfeld, who also assumes the key role of chairman on FERNRIDE’s board.
These investors add to the strong roster of existing venture capital support from 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and Push Ventures, along with corporate investors HHLA Next, DB Schenker via Schenker Ventures, and Krone.
“By closing our Series A at US$50 million, we have established an investor base consisting of multiple corporates and large venture funds that can provide us many key strategic advantages along the value chain, as well as fund our ambitious growth plans to build the global category leader for autonomous, electric trucking,” Hendrik Kramer, co-founder and CEO of FERNRIDE comments on this significant milestone.
