Electric vehicle startup Harbinger has secured $240 million in a new funding round as the company looks to expand beyond electric trucks into battery storage, defense technology and other commercial vehicle applications.
The Los Angeles-based company announced the Series D funding round as it continues to grow its business and develop new products for commercial and military markets. The latest investment brings Harbinger’s total funding to more than $650 million, according to Bloomberg.
The funding comes nearly one year after the company raised $160 million in its Series C round, which included an initial truck order from logistics giant FedEx.
Tiger Global and Other Major Investors Back Harbinger
Harbinger’s $240 million Series D round was co-led by Tiger Global, Capricorn’s Technology Impact Fund and defense-focused investment firm Ridgeline.
FedEx also participated in the latest funding round, continuing its financial relationship with the electric truck manufacturer. Other returning investors included Maniv, Greycroft and Leitmotif, a venture capital firm backed by Volkswagen.
Institutional investment firm Fidelity Management also joined the round as a new investor.
The participation of established investment firms and industry players reflects growing interest in Harbinger’s expansion plans, particularly its efforts to develop technologies for commercial transportation and defense applications.
There have also been reports that Harbinger is considering a potential public listing, although the company has not confirmed a timeline for an IPO.
FedEx Strengthens Its Partnership With Harbinger
FedEx is becoming one of Harbinger’s most important business partners.
After leading the company’s previous funding round, the logistics giant has continued to increase its involvement. FedEx recently placed an order for 2,000 electric trucks from Harbinger in a deal valued at more than $300 million.
The partnership is aimed at supporting FedEx’s efforts to modernise its delivery fleet and introduce more electric vehicles into its transportation operations.
FedEx has also strengthened its connection with the startup at the leadership level. Paul Melander, the company’s senior vice president of safety and transportation, has joined Harbinger’s board of directors.
His appointment could further strengthen cooperation between the two companies as Harbinger works to increase production and meet growing demand for its commercial electric vehicles.
Harbinger Is Expanding Beyond Electric Trucks
When Harbinger was established in 2022, its primary focus was developing an electric truck chassis for medium-duty commercial vehicles.
However, the company has gradually expanded its business into several related technology areas.
One important development was its acquisition of autonomous driving startup Phantom AI in February 2026. The acquisition added autonomous vehicle technology to Harbinger’s capabilities.
The company has also started developing hybrid emergency vehicles, expanding its presence in specialised commercial transportation.
Another major step is its work on unmanned hybrid-electric vehicle platforms designed for military applications.
These developments show that Harbinger is positioning itself as more than just an electric truck manufacturer. Its broader strategy includes combining electric powertrains, hybrid technology, autonomous driving and energy storage solutions.
Defense Technology Becomes a New Growth Opportunity
Harbinger’s expansion into defense applications is an important part of its evolving business strategy.
Military and defence organisations require vehicles that can operate in challenging environments while supporting specialised equipment and transportation needs.
Hybrid-electric platforms could offer advantages in certain applications, including flexible power generation and reduced dependence on conventional fuel systems.
Harbinger has already revealed an unmanned hybrid-electric vehicle platform designed for military use.
The company is now exploring opportunities in this market alongside its existing commercial vehicle business.
The latest funding round, which includes investment from defense-focused firm Ridgeline, also highlights investor interest in the company’s expanding product portfolio.
What Harbinger’s Latest Funding Means for Its Future
Harbinger’s $240 million Series D funding marks a significant milestone in its growth journey.
The company is moving beyond its original electric truck business and targeting several markets, including commercial transportation, energy storage, emergency vehicles and defense technology.
Its growing relationship with FedEx provides an important commercial opportunity, while investments from major financial and technology-focused firms could support its next stage of expansion.
With more than $650 million raised so far, Harbinger has secured substantial financial backing to develop its products and strengthen its market position.
The company’s next challenge will be turning its expanding portfolio into successful commercial businesses while meeting production requirements and competing in the rapidly changing electric vehicle industry.