Germany's FERNRIDE Raises $50M Series A to Scale Autonomous Yard Trucking

Germany-based autonomous trucking company FERNRIDE has closed a further $19 million in its Series A funding, pushing the total round amount to $50 million. The funding increase will help FERNRIDE’s position as a leader in autonomous, electric trucking by accelerating its growth.

The Munich-based company's backers include Munich Re Ventures and DB Schenker.

FERNRIDE employs a human-assisted autonomy approach, which allows for remote takeovers of trucks when necessary.

This offers seamless integration and reliable operations for logistics operators. 

Hendrik Kramer, co-founder and CEO of FERNRIDE, says: “By closing our Series A at $50M, 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."

"By starting with teleoperations that initially keeps a human in the loop, we believe FERNRIDE’s step-by-step approach is the optimal path towards building fully autonomous capabilities,” adds Timur Davis, Director at Munich Re Ventures. “FERNRIDE has already demonstrated its ability to partner with key players in the industry and is positioned to rapidly build on its unique strengths and capabilities to succeed where others in the market have fallen short.”

FERNRIDE currently has over 130 employees working in offices located in Munich and Wolfsburg.