Harbinger raises $240M after expanding into defense

Summary

• Electric truck startup Harbinger raised a $240 million Series D funding round to expand its product portfolio into battery storage & defense applications.
• The company has now raised more than $650 million to date, following a $160 million Series C round announced nearly one year prior.
• The Series D was co-led by Tiger Global, Capricorn's technology impact fund, & defense-focused firm Ridgeline.
• FedEx invested again after leading the previous round, while repeat investors included Maniv, Greycroft, & Leitmotif, a VC firm backed by Volkswagen.
• Institutional giant Fidelity Management also invested in this round.
• FedEx senior vice president of safety & transportation, Paul Melander, joined Harbinger's board of directors.
• FedEx placed its first large order with Harbinger for 2,000 trucks valued at more than $300 million.
• Harbinger was founded in 2022 by former employees of Canoo & QuantumScape.
• The company acquired autonomy startup Phantom AI, began developing hybrid emergency vehicles, & revealed a driverless hybrid electric platform for the military.