Swedish freight technology firm Einride secured $113 million in oversubscribed Private Investment in Public Equity (PIPE) financing. This funding supports the company’s planned merger with the special purpose acquisition company Legato Merger Corp. III.
The transaction establishes a pre-money equity value of $1.35 billion for Einride. Total gross proceeds from the merger and associated financings are expected to reach approximately $333 million before redemptions and expenses.
Einride will use the capital to fund its technology roadmap and global expansion. The combined entity expects to list on the New York Stock Exchange under the ticker ENRD during the first half of 2026.