Harbinger, a California-based maker of chassis for electric vehicles, announced it has raised $100 million in a Series B funding round, with proceeds aimed at scaling the volume production of its medium-duty electric truck platform.

Founded in 2021, Harbinger specializes in the development of chassis for electric commercial and specialty vehicles. The product comes ready to use, and is designed to support all of the popular medium-duty body types available today, including commercial walk-in vans, recreational vehicles, box trucks, and others. Its design, the company said, improves energy efficiency, lowers cost, and brings critical safety improvements. Its liquid cooled battery system provides for better performance and durability, lower cost, and enhanced safety. In addition, the company said, its design enables delivery of an EV product at price parity with traditional gasoline and diesel vehicles after federal government tax incentives.

According to Harbinger, the new capital will be used to increase production to meet increasing demand, and to expand its sales, parts and service operations for nationwide deployment, as well as to invest in new product lines and continued technology development, particularly around ADAS technologies and complementary products, such as the company’s recently announced hybrid RV chassis and future cab chassis.

John Harris, Co-founder and CEO of Harbinger, said:

“Harbinger is entering a rapid growth phase where we are focused on scaling production of our customer-ready platform. These funds catalyze significant revenue generation. We’ve developed a vehicle for a segment that is ripe for electrification, and there is a strong product market fit that will help fuel our upward trajectory through 2025 and beyond.”

The funding round was co-led by Capricorn’s Technology Impact Fund, and Leitmotif, a new U.S. venture capital firm anchored by European industrial interests. The Series B round includes a significant additional investment from leading investment firm Tiger Global and continued support from other return investors including The Coca-Cola System Sustainability Fund, managed by Greycroft, ArcTern Ventures, THOR Industries and its investment partner TechNexus, as well as continuing investments by Ridgeline, Maniv Mobility, Ironspring Ventures, Schematic Ventures, and Overture Climate.

Dipender Saluja, Managing Partner of Capricorn Investment Group’s Technology Impact Fund, said:

“Harbinger has demonstrated a remarkable ability to reach significant milestones far quicker than other EV companies. 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.”

To date, Harbinger has raised $200 million since its inception in 2021.