Harbinger, a medium-duty electric vehicle (EV) company, announced it has raised $100 million in Series B funds. It will use the funds to substantially accelerate its growth by deploying higher volume production capacity to meet demand for its purpose-built electric platform. Additionally, the company will use the funds to expand its sales, parts and service operations for nationwide deployment.
Harbinger has developed a proprietary electric stripped chassis for medium-duty vehicles, including walk-in vans, box trucks, RVs, delivery vans, and emergency response vehicles. This chassis incorporates all major vehicle systems designed and assembled in-house.
By vertically integrating its production process, the company maintains quality control while managing costs, offering a durable and efficient alternative to retrofitting internal combustion engine platforms. This approach supports Harbinger’s focus on advancing electric vehicle solutions for the medium-duty market.
Funding provides Harbinger with the flexibility to invest in long-term, higher-volume supplier tooling, a key component to improving cost of goods sold and keeping vehicle prices low for customers.
The initial funding round was co-led by Capricorn‘s Technology Impact Fund, a part of the prominent venture capital firm with $10 billion under management and investments in leading electrification companies, and Leitmotif, a new US venture capital firm anchored by European industrial interests.
The Series B round includes a significant additional investment from investment firm Tiger Global and continued support from other return investors including The Coca-Cola System Sustainability Fund, managed by Greycroft; ArcTern Ventures, a prominent climate tech investment firm; THOR Industries and its investment partner TechNexus; as well as continuing investments by Ridgeline, Maniv Mobility, Ironspring Ventures, Schematic Ventures, and Overture Climate.
Harbinger continues to scale rapidly while consistently hitting projected milestones.
The Series B funds will allow it to:
- Ramp to higher-volume production capacity through the initial start of production and beyond to meet customer demand
- Invest in new product lines and continued technology development, particularly around ADAS technologies and complementary products such as the company’s recently announced hybrid RV chassis and future cab chassis
- Advance the build-out of the company’s distribution, customer suppor,t and service operations
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