Harbinger, an electric truck startup, raised $240 million in Series D funding as it expands beyond its core truck business into battery storage and defense applications. The round closed almost a year after the company's $160 million Series C, bringing total funding to more than $650 million.
Tiger Global, Capricorn's technology impact fund, and defense-focused firm Ridgeline co-led the Series D. FedEx invested again after leading the prior round. Repeat investors included Maniv, Greycroft, and Leitmotif, the Volkswagen-backed venture firm. Fidelity Management participated for the first time.
FedEx deepened its commitment beyond capital. Paul Melander, the shipping giant's senior vice president of safety and transportation, joined Harbinger's board. FedEx also placed its first large order with Harbinger for 2,000 trucks, valued at more than $300 million.
Founded in 2022 by former Canoo and QuantumScape employees, Harbinger started with electric truck chassis. The company acquired autonomy startup Phantom AI, began developing hybrid emergency vehicles, and revealed a driverless hybrid electric platform for the military. Harbinger is reportedly weighing going public.