Swedish electric and autonomous truck company Einride has agreed to acquire electric vehicle charging startup Flipturn in an all-stock deal worth $38 million.

The acquisition, Einride’s first as a publicly traded company, will expand its electric vehicle charging ecosystem as it works to scale its electric truck business. The deal is expected to close this month. Flipturn, which employs 17 people, will continue to operate with the same team, a company spokesperson confirmed.

Founded in 2022, Flipturn raised $15.5 million in venture capital to build an EV charging software platform that can communicate with any EV charger through the Open Charge Point Protocol, the industry standard for communication between EV chargers and management systems. The software monitors the health of charging infrastructure, pulls data such as vehicle battery levels, driving history and routes to help companies better manage charging, and integrates with on-site solar and energy storage systems.

Einride CEO Roozbeh Charli said, “The acquisition is a decisive step in our scaling strategy in the United States.” The deal will also make Einride a more vertically integrated company, allowing it to offer customers not only electric trucks but also the charging software needed to operate them more efficiently and reliably.

This is an attractive and potentially influential proposition for future customers who want to add large electric trucks to their fleets, but may be afraid to do so.

Einride is perhaps best known for its unusual-looking, wireless, pod-shaped autonomous trucks. But its biggest revenue driver is its fleet of 200 heavy-duty electric trucks, which it operates for companies including Heineken, PepsiCo and Carlsberg Sweden in Europe, North America and the United Arab Emirates.

The company, which merged with a blank check company and debuted on Nasdaq in June, recently landed Amazon as a client. Amazon is not buying Einride’s vans; Instead, Einride owns and manages the trucks, through its own Saga AI software, which can be used by drivers on Amazon’s Relay freight network. Relay, which launched in 2017, is an app that truckers use to book trucking jobs with Amazon.