Einride founder on IPO announcement: 'Shows Europe can actually build impact companies'
After nearly a year of work, freight technology company Einride has announced plans to go public in the US next year.<br><br>"This is an extremely big step," co-founder Robert Falck tells Impact Loop in an interview about how he views the milestone – and his own future at the company.
Almost ten years ago, Robert Falck, together with Linnéa Kornehed Falck and Filip Lilja, founded freight-tech company Einride with the goal of electrifying transport.
Today the company announced its long-awaiting plans to go public on the New York Stock Exchange through a $1.8 billion SPAC merger with Legato Merger Corp III.
“This is a huge step – for the company and for the broader transition. It shows that we in Sweden and Europe can indeed build impact-driven companies. We compete and hold our own on a global stage,” he tells Impact Loop, just minutes after the IPO plans were made public.
It has long been no secret that this was the goal. In a previous interview with Impact Loop, Falck explained that the company has been pursuing an “active strategy” toward a public listing.
“We’ve been working toward this for almost a year,” Falck says.
A long time coming
“It’s been our strategic focus, and we’ve worked hard to achieve it. In a way, it’s a prerequisite for what we want to do. But any comments regarding the deal itself, I need to refer to Roozbeh Charli.”
Falck served as CEO of Einride until May this year, when he handed over the role to new CEO Roozbeh Charli. He remains chairman and a shareholder of the company.
According to Swedish media site Dagens Industri, the company’s founders are expected to retain roughly 87% ownership following Einride’s SPAC merger with Legato Merger Corp III as it goes public.
“We (the founders, ed.) are still the controlling shareholders, and I’m very happy in my role as an active chairman. That’s the plan, and it’s the ambition,” Falck says, adding that he doesn’t plan to sell any further shares beyond the historical transactions he's already made.
The IPO news comes despite recent turbulence at the company, which cut staff in 2024 and has seen its headcount shrink by about 20% over the past year, according to Dealroom data.
However, Einride's net sales more than doubled in 2024, from around €16.8m to €41.7m, while losses decreased from approximately €90.9m to €57.5m.
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