Harbinger raises $240 million as it broadens into defense

The latest round was co-led by Tiger Global, Capricorn’s “technology impact fund” and defense-focused Ridgeline. FedEx invested again, alongside returning investors Maniv, Greycroft and Leitmotif, a venture capital firm backed by Volkswagen. Fidelity Management also participated. Bloomberg News first reported the funding; Harbinger is reportedly weighing a public listing.

FedEx’s ties with the company have grown beyond investment. Paul Melander, the shipping company’s senior vice president of safety and transportation, has joined Harbinger’s board. FedEx also recently placed its first large order with the startup: 2,000 trucks valued at more than $300 million. Its initial truck order was included in last year’s Series C.

Harbinger was founded in 2022 by former employees of defunct electric-vehicle startup Canoo and battery company QuantumScape. It began by focusing on a single electric truck chassis and has since expanded its work. The company acquired autonomy startup Phantom AI, started developing hybrid emergency vehicles and unveiled a driverless hybrid-electric platform for the military.