Harbinger says it raised $240 million in a Series D round

Harbinger said on November 5 that it has raised $240 million in a Series D round to fund its next phase of growth.

Three firms co-led the round. Harbinger said the round was co-led by Tiger Global, Capricorn's Technology Impact Fund, and Ridgeline. It said other investors included Fidelity Management and Research Company, Squarepoint Capital, Xantium, Maniv, Greycroft, Australian Gulf Capital, PanaceaVC, ArcTern Ventures, and Leitmotif. Strategic investors included FedEx, THOR Industries through TechNexus, and BuildGroup.

The company said the money will fund a wider platform. Harbinger said the funding will support expansion across commercial vehicles, energy storage systems, power generation, autonomy software, and defense applications, plus a continued ramp of medium-duty manufacturing. It said that, with this financing, it has raised over $650 million since its founding in 2021.

The chief executive and a lead investor described the round. John Harris, co-founder and chief executive, said: "Harbinger exists to challenge what industry has learned to accept, and reinvent the critical systems the world depends on." Griffin Schroeder, a partner at Tiger Global, said: "Harbinger excels at electrification, and electrification has become one of the most pressing bottlenecks of the AI era."

Harbinger also pointed to a FedEx board seat and a prior truck order. It said FedEx senior vice president Paul Melander has joined its board. It said FedEx recently placed an order for 2,000 all-electric Harbinger trucks valued at more than $300 million. Goldman Sachs and Morgan Stanley served as placement agents on the Series D round.