Einride acquires EV charging startup Flipturn for $38 million
9 reported
Swedish electric and autonomous trucking company Einride has agreed to acquire EV charging startup Flipturn in an all-stock deal worth $38 million, according to a TechCrunch report. The acquisition, Einride’s first as a publicly traded company, is expected to close this month and will expand its EV-charging ecosystem as it scales its electric trucking business. Flipturn, which employs 17 people, will continue operating with the same team. The startup, founded in 2022, raised $15.5 million in venture capital to build an EV-charging software platform that communicates with any EV charger over the Open Charge Point Protocol. Einride CEO Roozbeh Charli said the acquisition is a decisive step in the company’s U.S. scaling strategy. Einride operates a fleet of 200 heavy-duty electric trucks for companies including Heineken, PepsiCo, and Carlsberg Sweden in Europe, North America, and the United Arab Emirates. The company recently landed Amazon as a customer, with Einride owning and managing trucks used by drivers in Amazon’s Relay freight network.
What’s reported
Einride agreed to acquire Flipturn in an all-stock deal worth $38 million.
The acquisition is Einride’s first as a publicly traded company.
The deal is expected to close this month.
Flipturn employs 17 people and will continue operating with the same team.
Flipturn was founded in 2022 and raised $15.5 million in venture capital.
Flipturn’s software monitors charging infrastructure health and integrates with on-site solar and energy-storage systems.
Einride CEO Roozbeh Charli called the acquisition a decisive step in the U.S. scaling strategy.
Einride operates 200 heavy-duty electric trucks for Heineken, PepsiCo, and Carlsberg Sweden.
Einride recently landed Amazon as a customer for its Relay freight network.
Key figures
Roozbeh Charli, CEO of Einride
Flipturn (startup, no specific individuals named)
Heineken, PepsiCo, Carlsberg Sweden (customers)
Amazon (customer)
Sources: TechCrunch
