Harbinger Secures $100M Series B for Electric Truck Expansion
Harbinger, a Los Angeles-based medium-duty electric vehicle (EV) company, has secured $100 million in Series B funding. This significant investment was co-led by Capricorn’s Technology Impact Fund and Leitmotif, with additional participation from notable investors such as Tiger Global, The Coca-Cola System Sustainability Fund managed by Greycroft, ArcTern Ventures, THOR Industries and its investment partner TechNexus, Ridgeline, Maniv Mobility, Ironspring Ventures, Schematic Ventures, and Overture Climate.
The company, founded in 2021, has now raised a total of $200 million. The funds from this latest round will be used to accelerate Harbinger’s growth by deploying higher volume production capacity to meet the increasing demand for its purpose-built electric platform. Additionally, the company plans to expand its sales, parts, and service operations for nationwide deployment.
Harbinger specializes in commercial electric vehicles, leveraging proprietary, in-house developed vehicle technologies designed specifically for commercial and specialty vehicles. The company builds proprietary EV stripped chassis designed for medium-duty vehicles, including walk-in vans, box trucks, recreational vehicles (RVs), delivery vans, emergency and disaster response vehicles, and more.
The company has received an order book of 4,690 vehicle orders, valued at approximately $500 million, from notable customers. This significant order book underscores the growing demand for Harbinger’s electric vehicles and the company’s potential for significant growth in the market.
The investment in Harbinger reflects the increasing interest in electric vehicles and sustainable technologies. The company’s focus on medium-duty vehicles, which are critical for various industries, positions it well to capitalize on the transition to electric vehicles. With this funding, Harbinger aims to scale its operations and meet the growing demand for its electric vehicles, further solidifying its position in the market.
The participation of diverse investors, including those focused on sustainability and technology, highlights the broad appeal of Harbinger’s mission and the potential for electric vehicles to transform industries. The company’s commitment to developing proprietary technologies and expanding its operations nationwide underscores its ambition to lead in the electric vehicle sector.
Overall, Harbinger’s successful Series B funding round marks a significant milestone in its growth trajectory, enabling the company to accelerate its production and deployment of electric vehicles. This investment not only supports Harbinger’s expansion but also contributes to the broader shift towards sustainable transportation solutions.
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