Bus

Proterra secures another $34M in funding

Posted on January 8, 2014

Proterra Inc. closed round two of its Series C funding, raising more than $10 million, bringing total Series C funding to date to more than $34 million.

Funding was based in large measure on the company’s strong 2013 performance and aggressive sales.

The second round of Series C investment was led by Nick and Joby Pritzker through their family’s firm, Tao Invest, and selected existing shareholders. Previous investors include electric industry leaders Edison Energy Inc. and Constellation, along with Kleiner Perkins Caufield & Byers, GM Ventures, Mitsui & Co. Global Investment Inc., Vision Ridge Partners, Hennessey Capital and 88 Green Ventures.

Proterra expects to close Series C funding before the end of the first quarter of 2014.

The company manufactures the only battery-electric buses purchased for revenue service anywhere in North America, according to the company. Its BE35 is the only electric transit bus to ever pass stringent federally-required Altoona testing.

The company has recently announced a host of new sales, including several from repeat customers. Proterra will use these additional Series C proceeds to continue to fund production growth and product development efforts to keep pace with accelerating demand.

View comments or post a comment on this story. (0 Comments)

More News

New Flyer signs electrification accord to accelerate U.S. tech adoption

Outlines how transportation electrification can be advanced by policymakers, public utility commissions, and governments to benefit utility customers and all forms of transportation.

MCI's Maitland discuss new J3500, innovation at BusCon 2018

The company's VP, marketing and product planning, tells METRO's James Blue about MCI's new coach, as well as its committment to innovation.

Senator visits Midwest Bus Corp., lauds job creation

Due to the size of a 155-bus order from MBTA, dozens of new jobs have been created by the company.

Highlights from BusCon 2018 in Indianapolis

Mobility, technology, and new vehicles were just some of the highlights of event held Oct. 1 to 3.

Mass. BRT pilot combines design, art to launch improved experience

Featuring the work of five local artists along the corridor, the pilot aims to bring more efficient and reliable service.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation