Harbinger, a startup in the medium-duty electric vehicle (EV) space, has announced a successful close of a $100 million Series B funding round, co-led by Capricorn’s Technology Impact Fund and Leitmotif.
This latest investment will enable Harbinger to scale production, expand its operational footprint, and accelerate the development of its groundbreaking electric platform tailored for medium-duty vehicles.
About Harbinger
Based in Los Angeles, Harbinger is on a mission to redefine commercial transportation with cutting-edge EV solutions.
By leveraging proprietary technologies and a vertically integrated approach, Harbinger offers medium-duty electric vehicles that combine performance, affordability, and sustainability.
Driving Growth Through Innovation and Investment
Harbinger’s $100 million Series B funding marks a pivotal moment for the company, founded in 2021 with a mission to bring innovative solutions to an industry ripe for change.
The funding will support key initiatives, including:
- Scaling Production Capacity: Enhancing manufacturing processes to meet the surging demand for Harbinger’s proprietary EV stripped chassis.
- Nationwide Deployment: Expanding sales, parts, and service operations to create a robust nationwide infrastructure.
- Technology Development: Investing in advanced driver-assistance systems (ADAS) and complementary technologies to maintain a competitive edge.
Achievements and Market Impact
Since its inception, Harbinger has achieved several significant milestones:
- Order Book Growth: The company has secured 4,690 vehicle orders, valued at $500 million, from leading brands like Bimbo Bakeries USA and THOR Industries.
- Product Innovation: Harbinger recently collaborated with THOR Industries to debut the world’s first hybrid Class A motorhome, boasting a range of up to 500 miles.
- Successful Funding Rounds: In addition to the Series B, Harbinger closed a $73 million Series A round in 2023, bringing its total funding to $200 million.
What Sets Harbinger Apart?
Harbinger’s success stems from its vertically integrated approach, which emphasizes in-house design and manufacturing. This strategy not only reduces costs but also ensures superior quality control.
The company’s proprietary EV stripped chassis is designed specifically for medium-duty vehicles, including delivery vans, walk-in trucks, and RVs.
By developing the entire platform from the ground up, Harbinger avoids the pitfalls of retrofitting combustion engine platforms for electric use. The result is a safer, more durable, and cost-effective solution that aligns with customer needs.
Leadership and Expertise
Harbinger’s executive team boasts industry veterans from Tesla, Rivian, SpaceX, and Ford, bringing a wealth of experience to the company’s mission.
CEO John Harris expressed optimism about the future, stating, “We’ve developed a product that meets the market’s demand for sustainable, high-performing medium-duty vehicles. This funding will drive our growth and solidify our position as a leader in EV innovation.”
Looking Ahead: Transforming Commercial Transportation
The Series B funds will position Harbinger for long-term success by supporting:
- Advanced Manufacturing: Investing in supplier tooling to lower production costs.
- Market Expansion: Strengthening dealer-supported sales and service networks.
- Product Diversification: Exploring new applications for the EV stripped chassis, including hybrid and electric configurations for disaster response and emergency vehicles.
Investor Confidence in a Changing Industry
Dipender Saluja, Managing Partner of Capricorn’s Technology Impact Fund, highlighted Harbinger’s potential: “Harbinger is meeting an enormous market demand by delivering high-quality EV solutions at competitive prices. Their ability to innovate quickly and efficiently sets them apart in the industry.”
Jens Wiese, Managing Partner at Leitmotif, echoed these sentiments: “Harbinger’s versatile chassis can address nearly every use case in the medium-duty segment, driving the industry toward electrification.”
