- Capricorn’s Technology Impact Fund and Leitmotif led the round
- Other investors included Tiger Global, The Coca-Cola System Sustainability Fund, managed by Greycroft; ArcTern Ventures; THOR Industries and its investment partner TechNexus
- Capricorn’s Technology Impact Fund invests in companies developing and scaling novel engineering-based solutions to climate change and other global challenges
Harbinger, a Garden Grove, California-based medium-duty electric vehicle company, has raised $100 million in Series B funding.
The capital infusion will be used to accelerate growth and achieve higher volume production.
Capricorn’s Technology Impact Fund and Leitmotif led the round.
Other investors included Tiger Global; The Coca-Cola System Sustainability Fund, managed by Greycroft; ArcTern Ventures; THOR Industries and its investment partner TechNexus.
“Harbinger has demonstrated a remarkable ability to reach significant milestones far quicker than other EV companies,” said Dipender Saluja, managing partner of Capricorn Investment Group’s Technology Impact Fund in a statement. “The market has been impressed by their ability to develop large portions of the vehicle in-house to drive down unit costs, while remaining capital efficient.”
Capricorn’s Technology Impact Fund invests in companies developing and scaling novel engineering-based solutions to climate change and other global challenges. TIF is an early investor in companies that includes Tesla, Joby Aviation, SpaceX, QuantumScape, Redwood Materials, Planet Labs, Saildrone, Nuvia and Innovium. Currently, Capricorn manages about $10 billion in assets for investors.
Leitmotif is an independent venture capital firm anchored by a $300 million commitment from European industrial interests.
