Harbinger has raised a $240 million Series D round, the electric truck startup's latest step in broadening its business beyond vehicle manufacturing into battery storage and defense work. The Los Angeles company announced the funding roughly one year after closing a $160 million Series C that included an initial truck order from FedEx. Bloomberg News first reported the new round, which brings Harbinger's total fundraising to more than $650 million.
Tiger Global, Capricorn's technology impact fund and Ridgeline, a defense-focused firm, co-led the Series D. FedEx returned as an investor after leading the prior round, joined by repeat backers Maniv, Greycroft and Leitmotif, a venture firm backed by Volkswagen. Fidelity Management also participated as a new investor; the institutional giant tends to put money into pre-IPO companies, and Harbinger is reportedly weighing a public listing.
FedEx's ties to Harbinger are widening even though it did not lead this round. Paul Melander, FedEx's senior vice president of safety and transportation, has joined Harbinger's board of directors. The shipping giant also recently placed its first large order with Harbinger, a deal for 2,000 trucks valued at more than $300 million.
Harbinger was founded in 2022 by former employees of Canoo, the now-defunct EV startup, and battery company QuantumScape. It began by concentrating on a single electric truck chassis and has expanded steadily since. The company has acquired autonomy startup Phantom AI, started work on hybrid emergency vehicles and unveiled a driverless hybrid electric platform intended for the military.
The defense and battery storage moves place Harbinger in markets that extend past commercial trucking, where its early customer base took shape through the FedEx relationship. The Series D gives the company new capital as it pursues those areas alongside its core chassis business.
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