Harbinger Raises $240 Million Series D to Expand Electric Vehicle Platform Beyond Commercial Trucks

California-based electric vehicle and industrial technology company Harbinger has raised $240 million in a Series D funding round to expand its electrification platform into energy storage, power generation, autonomous systems and defence applications.

The round was co-led by Tiger Global, Capricorn's Technology Impact Fund and Ridgeline. Other participating investors included Fidelity Management & Research Company, Squarepoint Capital, Xantium and BuildGroup. Existing investors Maniv and Greycroft also returned.

Strategic investors FedEx and THOR Industries participated through TechNexus. The company said it has raised more than $650 million since its founding in 2021.

The fresh capital will support Harbinger's manufacturing expansion, continued production ramp-up for commercial vehicles and development of its newer business areas.

Expanding Beyond Electric Commercial Trucks

Founded in 2021, Harbinger initially built its business around electric commercial vehicle platforms. The company manufactures Class 4 through Class 6 chassis in all-electric and plug-in hybrid configurations.

It develops several critical vehicle systems in-house, including powertrains, battery systems, steering and brakes. This engineering capability is now central to its plans to enter additional industrial markets.

Harbinger intends to extend its electrification technology into energy storage, power generation, autonomy and defence. The company sees electrification as an increasingly important requirement across industrial operations, mobility and AI infrastructure.

The funding will help it develop these adjacent businesses while continuing to scale its existing commercial vehicle operations.

FedEx Order Drives Manufacturing Expansion

A major near-term priority is fulfilling Harbinger's order from FedEx.

The company is preparing to deliver 2,000 medium-duty electric trucks under an order valued at more than $300 million. Deliveries are expected to be completed by the end of 2027.

The order follows an initial purchase of 53 trucks placed by FedEx during Harbinger's previous Series C funding round in November 2025.

The latest investment will support the manufacturing capacity required to increase production and fulfil the larger order.

However, the scale-up remains a significant operational challenge. Harbinger CEO John Harris told Bloomberg News in September that the company had recently completed its 1,000th vehicle. The FedEx order alone requires deliveries equivalent to twice that number by the end of 2027.

The company's ability to increase production while maintaining delivery schedules will be an important test of its manufacturing capabilities.

Developing a Broader Electrification Platform

Harbinger's vehicle technology is designed to support different commercial applications.

Its HC Series Cab, unveiled in March, includes a gasoline range extender that can provide up to 500 miles of range, depending on configuration. The platform can also export up to 15 kilowatts of power, potentially allowing work crews to operate equipment without carrying a separate generator.

The company has also expanded its technology capabilities through the acquisition of autonomy software maker Phantom AI.

Beyond commercial vehicles, Harbinger has begun selling its batteries for energy storage, according to Bloomberg News. The latest funding is expected to support further development in energy storage and power generation, although the company has not disclosed specific customers or revenue figures for these businesses.

Entering Defence and Autonomous Mobility

Harbinger has also moved into defence applications.

Its first defence programme involves developing the vehicle platform for an uncrewed Army supply vehicle under a contract with American Rheinmetall.

The programme remains at the prototype stage. The source report notes that such programmes typically begin with three to 10 units, and the contract's financial value has not been disclosed.

The company is looking to apply its existing vehicle engineering and electrification capabilities to these specialised applications.

Investors Back Electrification and AI Infrastructure

The Series D attracted a mix of venture capital, crossover and strategic investors.

Tiger Global linked its investment to the growing demand for electrification infrastructure as AI data centres and industrial systems expand. FedEx and THOR Industries participated as strategic investors through TechNexus.

Paul Melander, FedEx's senior vice president of safety and transportation, has also joined Harbinger's board.

The investment comes as electric commercial vehicle adoption continues to develop in the United States. According to CALSTART's June 2026 market update, zero-emission trucks represented a record 4.14% of US truck deployments in the second half of 2025. Cargo vans accounted for most of those deployments, while medium-duty trucks and other segments contributed a smaller share.

What Comes Next for Harbinger?

Harbinger's immediate priority is scaling manufacturing to fulfil its FedEx order while developing its expansion into energy storage, power generation, autonomy and defence.

The company has not disclosed its valuation, current production capacity or how the $240 million will be allocated between its commercial vehicle business and newer markets.

Its next phase will therefore be measured by two major challenges: delivering thousands of commercial vehicles on schedule and demonstrating that its electrification platform can translate into viable products across additional industrial sectors.