Einride raises $500 mln to boost electric freight ecosystem; Blume Ventures raises $250 mln fund

Einride, a freight mobility technology company, said yesterday it has raised $500 million in financing, comprising $200 million in Series C equity investment and a $300 million debt facility. Blume Ventures has announced the close of its Fund IV at more than $250 million, bringing its assets under management to more than $600 million. Apple has delayed the launch of its EV, and separately, is being sued over AirTags. And Microsoft offers a 10-year deal to bring Call of Duty to Nintendo. Notes: Einride, a freight mobility technology company, said yesterday it has raised $500 million in financing, comprising $200 million in Series C equity investment and a $300 million debt facility. The debt financing, which is the largest asset-backed facility to date for heavy-duty electric vehicles, will provide transformative funding for Einride’s fleet of electric vehicles across the world, the Sweden-headquartered company said in a press release. The Series C provides the next step in the funding of new developments and deployments across Einride’s autonomous and digital products, as well as expansion to new markets and clients. Meanwhile, Apple has scaled back its ambitious self-driving electric vehicle plans and postponed the target launch date for what is being widely called Apple Car by about a year to 2026, according to a Bloomberg report that is behind a paywall but was widely syndicated. The car project, called Titan inside the company, has been in limbo, according to the Bloomberg report, for the past several months as Apple executives grappled with the reality that its vision for a fully autonomous vehicle — without a steering wheel or pedals — isn’t feasible with current technology. The company is now planning a less-ambitious design that will include a steering wheel and pedals and only support fully autonomous capabilities on highways, according to Bloomberg. In more disturbing Apple news, the iPhone maker has been sued by two women who said its AirTag devices have made it easier for their former partners and other stalkers to track down victims, Reuters reports. In a proposed class action filed on Dec. 4 in a San Francisco federal court, the women said Apple has been unable to protect people from unwanted trafficking through AirTag since launching what it called the “stalker proof” device in April 2021. In gaming news, Microsoft has entered a 10-year agreement with Japanese gaming giant Nintendo to bring Call Of Duty games to Nintendo consoles if the Activision Blizzard acquisition closes, India Abroad News Service reports. Microsoft Gaming CEO Phil Spencer announced on Twitter yesterday. “Microsoft is committed to helping bring more games to more people, however, they choose to play,” he said. Blume Ventures has announced the close of its Fund IV at more than $250 million, bringing its assets under management to more than $600 million, the well-known Indian VC firm, said in a press release yesterday. Blume focuses on early-stage, innovative technology-led startups. Its areas of interest include edtech, fintech, health, commerce and consumer internet, robotics, AI and SaaS and enterprise software, the 12-year-old firm said. The latest fund has investors including family offices in India and overseas, sovereign wealth funds, and emerging market Fund of Funds. Theme music courtesy Free Music & Sounds: https://soundcloud.com/freemusicandsounds