The Swedish business Einride, which is well-known for its odd-looking electric and self-driving freight-carrying pods, announced on Wednesday that it had secured $100 million from a number of new and existing investors, including EQT Ventures, its largest shareholder.

IonQ, a quantum computing company, made an undisclosed strategic investment as part of the raise.  Einride and its investors did not reveal the post-money valuation of the business.

The cash comes as Einride strives to scale its three main products—autonomous pod-like trucks that travel defined routes, planning software for shippers, and electric heavy rigs—and gets used to a new CEO.  According to Roozbeh Charli, CEO of Einride, the cash would enable the business to expand along with its clientele and hasten the rollout of its autonomous freight technology.

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Founded in Sweden in 2016, the company’s goal was to upend the freight business by first using electric trucks and later electric autonomous pods, which are specially designed to drive themselves without the need for pedals or a steering wheel.

Beyond Sweden, Einride now serves businesses including PepsiCo, Carlsberg Sweden, and DP World with a fleet of heavy-duty electric trucks in Europe, North America, and the United Arab Emirates.  With its self-driving pod-like trucks, the business has gained some traction with clients like GE Appliances in the US and Apotea in Sweden.

“We think Einride is creating the most comprehensive and innovative freight ecosystem available today,” EQT Ventures partner Ted Persson said in a statement.  Nordic technology often goes unnoticed until it subtly transforms a whole sector.  In freight, Einride is doing precisely that.

However, Einride has experienced internal changes and has struggled with the costly and protracted process of transitioning from development to commercial operations, much like the rest of the fledgling autonomous vehicle technology industry.

In order to concentrate on the company’s long-term strategy, Robert Falck, a co-founder of Einride, stepped down as CEO five months ago and assumed the position of executive chairman of the board.  Charli, who had been CFO, was promoted to the top leadership position.

In 2022, the business raised $500 million in a Series C round of debt and equity.  Backers such as Northzone, EQT Ventures, Temasek, Swedish pension fund AMF, Polar Structure, and Norrsken VC provided the $200 million equity-based portion.  Additionally, Barclays Europe spearheaded the $300 million debt funding effort.