Speedinvest joins $31M round for FERNRIDE, electric trucking company 

The Munich-based autonomous, electric trucking company, FERNRIDE has raised $31 million in Series A funding to accelerate the transition towards automated and sustainable logistics. The investment was received by 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and others.

• Founded in 2019 by Hendrik Kramer, Dr. Maximilian Fisser, and Jean-Michael Georg, FERNRIDE offers scalable automation solutions for yard trucking. The company employs a human-assisted automation approach, which allows for remote takeovers of electric trucks when necessary. 
• Currently, the company has over 100 employees working in offices located in Munich and Wolfsburg. Among its customers are Volkswagen, HHLA, DB Schenker, and BSH.

“Our current customers operate more than 1,000 yard trucks in Europe alone – it is crucial to offer an easily scalable solution. With FERNRIDE, we can do just that, as our human-assisted approach works right away, solves all the possible edge cases, and delivers the reliability that the industry needs,” 

says Hendrik Kramer, CEO, and co-Founder of FERNRIDE.

• Investors in this round include:
  • 10x Founders, Munich-based VC firm, that seeks to invest in digital technology, software, hardware, AI, data, robotics, platforms, marketplaces.
  • Promus Ventures, US fund that invests in early-stage deep-tech software/hardware companies. 
  • German early-stage VC fund, Fly Ventures that targets the software sector. The fund prefers investing between $400,000 to $900,000 initially.
  • Vienna-based VC fund Speedinvest. Earlier this year, Speedinvest led €1.5 million round for French carbon credit issuing and selling startup Riverse. 
  • Corporate investors, such as HHLA Next, DB Schenker via Schenker Ventures, and Krone also joined the investment.
• The funding will be used to scale FERNRIDE’s operations with existing and new customers globally and boost the technological development of its approach.