Swedish electric and autonomous trucking firm Einride has agreed to acquire EV charging startup Flipturn in an all-stock deal worth $38 million, marking the company's first acquisition since going public. The move is aimed at building out Einride's charging ecosystem as it expands its electric trucking operations in the US, allowing it to offer customers a more complete package of trucks and the software needed to run them reliably.

Flipturn, founded in 2022 with 17 staff, had raised $15.5 million in venture funding to build charging management software compatible with any EV charger via the industry-standard Open Charge Point Protocol. Its platform tracks charger health and vehicle data such as battery levels and routes, and integrates with on-site solar and storage systems; the team will stay in place after the deal closes this month. Einride, which listed on Nasdaq in June via a merger with a blank-check company, runs a fleet of 200 electric trucks for clients including Heineken, PepsiCo and Carlsberg Sweden, and recently added Amazon as a customer through its Relay freight network.