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Einride spends $38M to add charging software
Einride is acquiring Flipturn in a $38 million all-stock deal to expand EV charging as it grows its electric trucking business.
Image: TechCrunch
Einride is buying EV charging startup Flipturn in an all-stock deal worth $38 million, giving the Swedish electric and autonomous trucking company a bigger role in the charging stack behind its fleet business.
The acquisition, expected to close this month, is Einride’s first since going public after its Nasdaq debut in June. A company spokesperson said Flipturn’s 17 employees will stay on and continue operating as the same team.
Founded in 2022, Flipturn raised $15.5 million in venture capital to build an EV charging software platform that works with any charger using Open Charge Point Protocol, the standard used for communication between chargers and management systems. Its software monitors charger health, pulls in data including battery levels, driving history, and routes, and also integrates with on-site solar and energy storage systems.
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Einride CEO Roozbeh Charli said the deal is part of the company’s push in the U.S.
“acquisition is a decisive step in our U.S. scaling strategy.”
The move also makes Einride more vertically integrated. Instead of selling customers only electric trucks, it can now pair those vehicles with charging software aimed at making fleet operations more efficient and reliable — a stronger pitch for companies still hesitant to electrify heavy-duty transport.
Einride is widely recognized for its cabless autonomous pod-like trucks, but its main revenue comes from a fleet of 200 heavy-duty electric trucks. The company operates those vehicles for customers including Heineken, PepsiCo, and Carlsberg Sweden across Europe, North America, and the United Arab Emirates.
It also recently added Amazon as a customer. Amazon is not purchasing Einride’s trucks outright; instead, Einride owns and manages the trucks through its Saga AI software, and drivers can use them within Amazon Relay, the freight-booking app Amazon launched in 2017.
Frontier Editor
Dan is our resident futurist, covering electric mobility, space exploration, and the smart home. He's interested in atoms just as much as bits. Whether it's a new battery chemistry, a reusable rocket, or a protocol that finally makes IoT devices talk to each other, Dan breaks down the engineering that pushes humanity forward.
via TechCrunch
