Einride bets $38M on EV charging as it scales electric trucking
Swedish trucking firm Einride is acquiring EV charging startup Flipturn for $38 million to bolster its electric logistics infrastructure. This move aims to integrate charging software with their autonomous and electric fleet operations.
Why it matters
The acquisition signals a trend toward vertical integration in the green logistics sector as companies seek to control the full EV charging ecosystem.
Swedish electric and autonomous trucking company Einride has agreed to acquire EV charging startup Flipturn in an all-stock deal worth $38 million.
The acquisition — Einride’s first as a publicly traded company — will expand its EV charging ecosystem as it works to scale its electric trucking business. The deal is expected to close this month. Flipturn, which employs 17 people, will continue operating with the same team, a company spokesperson confirmed.
Flipturn, founded in 2022, raised $15.5 million in venture capital to build an EV charging software platform that can communicate with any EV charger over the Open Charge Point Protocol, the industry standard for communication between EV chargers and management systems. The software monitors the health of charging infrastructure, pulls in data such as vehicle battery levels, driving history, and routes to help companies better manage charging, and integrates with on-site solar and energy storage systems.
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