Harbinger raises $240M after expanding into defense

Harbinger Electric truck startup Harbinger has raised a $240 million Series D funding round as it expands its portfolio of products, including battery storage and defense applications. The funding comes almost one year to the day after the Los Angeles-based company announced a $160 million Series C, which included an initial truck order from FedEx. Harbinger has now raised more than $650 million to date, according to Bloomberg News, which first reported the round. The Series D was co-led by Tiger Global, Capricorn’s “technology impact fund,” and defense-focused firm Ridgeline. FedEx invested again after leading last year’s round, and other repeat investors included Maniv, Greycroft, and Leitmotif, a VC firm backed by Volkswagen. Also investing this time was institutional giant Fidelity Management, which tends to invest in pre-IPO startups. Harbinger is reportedly weighing going public.

• Harbinger has expanded its product portfolio to include battery storage and defense applications.
• FedEx has placed its first large order with Harbinger, valued at more than $300 million, and has appointed Paul Melander, its senior vice president of safety and transportation, to Harbinger’s board of directors.
• The company has partnered with autonomy startup Phantom AI and is developing hybrid emergency vehicles and a driverless hybrid electric platform for the military.

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