FERNRIDE, a Germany-based autonomous trucking innovator, has successfully secured an additional $19 million in its Series A funding, bringing the total amount raised to $50 million.
This funding surge reflects FERNRIDE’s commitment to advancing the integration of automated and sustainable logistics through human-machine collaboration technology.
Among the new investors to this Series A round are Germany’s Deep Tech and Climate Fonds (DTCF) along with Munich Re Ventures, Bayern Kapital, and Klaus Kleinfeld, who assumes the role of Chairman on FERNRIDE’s board.
These investors join a robust roster of existing supporters, including 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, Push Ventures, HHLA Next, DB Schenker via Schenker Ventures, and Krone.
Hendrik Kramer, Co-founder and CEO of FERNRIDE, emphasized the significance of this milestone: “By closing our Series A at $50 million, we have established an investor base consisting of multiple corporates and large venture funds that can provide us many key strategic advantages along the value chain, as well as fund our ambitious growth plans to build the global category leader for autonomous, electric trucking.”
“FERNRIDE has assembled an exceptional team within the industry and has the potential to develop into a leading global technology champion from Germany,” added Dr Elisabeth Schrey of DTCF.
“FERNRIDE’s use of pioneering technologies that automate and decarbonise the supply chain fits very well into the Deep Tech and Climate Fonds investment focus.”
The company’s human-assisted approach to autonomy addresses logistical challenges while enhancing economic viability, enabling reliable driverless operations from the outset.
This approach has already garnered FERNRIDE partnerships with industry leaders such as Volkswagen, DB Schenker, and HHLA.
The substantial capital infusion will be directed towards strengthening FERNRIDE’s position as a category leader in autonomous trucking, promoting sustainability, productivity, and worker safety.
The company stated its commitment to scaling its operations globally, further developing its innovative human-assisted autonomy approach, and advancing the industry’s transition to a new era of autonomy within the global supply chain.