From range anxiety to uptime: Elonroad raises funding to scale automatic charging

Investment led by Singapore-based HICO Investment Group with participation from US venture firm Tamar Ventures and Nordic-based Butterfly Ventures will support global expansion of Elonroad’s infrastructure for electrified transport operations in ports, logistics and industrial environments.

Lund, Sweden, 28th of May 2026 – Swedish infrastructure technology company Elonroad has secured a new investment round led by Singapore-based HICO Investment Group, with participation from US venture capital firm, Tamar Ventures, and Nordic-based venture capital firm, Butterfly Ventures. Following successful pilot deployments in both Europe and the United States, the investment will support the industrialisation of Elonroad’s automatic charging infrastructure and accelerate the company’s international expansion within ports, logistics and industrial transport operations.

The investment marks a key step for Elonroad as the company transitions from technology development to industrial-scale deployment of its infrastructure designed for high-utilisation transport environments.

Charging infrastructure built for operations

Elonroad develops automatic charging infrastructure that enables electric vehicles to access energy seamlessly during operations. By integrating charging infrastructure directly into operational environments such as ports, logistics hubs and industrial transport corridors, vehicles can access energy continuously rather than relying solely on large onboard batteries.

This system-based approach allows fleet operators to reduce battery size, increase operational uptime and improve the total cost of ownership for electric transport systems operating on predictable, high-frequency routes.

Combined with digital fleet orchestration and intelligent energy management, Elonroad’s infrastructure coordinates vehicles, charging events and energy demand across operational environments where reliability and uptime are critical.

Strategic investors in key growth markets

As lead investor, HICO Investment Group brings a strong network within the global maritime, transportation, logistics, and energy transition ecosystem. Tamar Ventures, a US-based venture capital firm investing in deep technology and climate innovation strengthens Elonroad’s connections to the United States innovation and investment ecosystem. Finally, Butterfly Ventures, one of the leading Nordic early-stage venture capital firms focused on deep tech, adds further expertise within scalable industrial innovation and sustainable technologies across the European market and with many of their portfolio companies successfully entering the US market.

Together, the investors provide Elonroad with strategic reach across Asia, North America and Europe as the company scales internationally.

“We founded Elonroad with a clear conviction: that electrification of transport should be fast, efficient and scalable – not a decade-long project. The urgency has never been greater. HICO Investment Group, Tamar Ventures and Butterfly Ventures share that ambition, and with their backing we can now build the infrastructure that makes large-scale electrification possible without oversizing batteries or compromising operational uptime. The pilots have proven that it works. Now we will scale.”

- Karin Ebbinghaus, CEO and co-founder, Elonroad

"Ports and logistics environments are undergoing a dual transformation: electrification and autonomy. These are two parallel tracks today, but they are converging. Elonroad's infrastructure is a critical piece of that puzzle – enabling vehicles to charge automatically during operations is exactly the kind of foundation that makes fully autonomous, zero-emission transport operations possible at scale. That is the future we are investing in.”

- Chris Hartnoll, CEO, HICO Investment Group

"We have been following Elonroad’s journey for over 4 years and are so excited and proud to finally be part of the this amazing journey into the future of Electrification and Autonomy! What an incredible team we have invested in at Elonroad and also thrilled to join HICO and Tamar Ventures as we look forward to contributing to zero-emission goals in the global transport sector with transformative technology that will help our environment stay cleaner for our children and generations to come. I look forward to work with Elonroad in Europe and the US! "

- Tanya Horowitz, Partner, Butterfly Ventures

About Elonroad
Elonroad is a Swedish deep tech company developing automatic charging infrastructure for electric transport operations. The company’s solutions enable vehicles to access energy continuously during operations, helping reduce battery sizes, increase fleet uptime and accelerate the electrification of logistics, ports and industrial transport systems.

About HICO Investment Group
HICO Investment Group is a Singapore-based multi‑strategy investment firm focused on growth equity investments in technology companies across logistics, maritime and energy transition. Founded in 2021, HICO partners with management teams to scale innovative, growth‑oriented businesses and build long‑term, sustainable value through an active investment approach.

About Tamar Ventures
Tamar Ventures is a venture capital firm investing in innovative companies across Europe and the United States, with a focus on deep technology and climate innovation.

About Butterfly Ventures
Butterfly Ventures is a Nordic-based early-stage venture capital firm focused on deep tech and hardware-driven innovation. The firm invests in ambitious technology companies addressing major industrial and sustainability challenges across Europe.