Fernride develops scalable automation solutions for trucks in yard and port logistics. The startup uses the so-called ‘human-assisted autonomy’ approach, which enables remote operation of autonomous, electric trucks. The company, founded in 2019, counts Volkswagen, DB Schenker, and HHLA among its customers. The startup aims to address the shortage of truck drivers, rising CO2 emissions, and low profit margins in the logistics industry with its solution.
Fernride is financed by venture capital investors 10x Founders, Promus Ventures, Fly Ventures, Speedinvest, and Push Ventures. Additionally, the companies HHLA Next, DB Schenker, and Krone support the startup. With the Series A expansion, this group was joined by the German Deep Tech and Climate Fund (DTCF). Furthermore, Munich Re Ventures based in San Francisco, Bayern Kapital, and Klaus Kleinfeld are also participating in the financing. The latter is also expected to take on the key role of chairman of Fernride’s supervisory board.
Hendrik Kramer, co-founder and CEO of Fernride, says:
“With the completion of our Series A of $50 million, we have built an investor base of multiple corporate and large venture capital partners that provide us with many important strategic advantages across the value chain and can finance our ambitious growth plans to establish ourselves as a global market leader in autonomous electric driving.”
Fernride is “the optimal way to build fully autonomous capabilities”
Elisabeth Schrey from the DTCF adds:
“Fernride has assembled an extraordinary team within the industry and has the potential to develop into a leading global technology champion from Germany. Fernride’s use of groundbreaking technologies that automate and decarbonize supply chains fits very well with the investment focus of the Deep Tech and Climate Fund.”
And Timur Davis, Director at Munich Re Ventures, explains:
“We believe that Fernride’s gradual approach with human oversight is the optimal way to build fully autonomous capabilities. Fernride has already proven that it is able to collaborate with key players in the industry and is able to rapidly expand its unique strengths and capabilities to succeed where others in the market have failed.”
