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

FTA confirmed to speak on new bus testing rule, more at BusCon 2016

A Transit Maintenance Forum pass is $98 and includes the forum as well as access to BusCon’s full educational program, the exhibit hall full of buses, networking event at the Indianapolis Motor Speedway Museum and much more.

Forest River ranks Top 3 Spots in Ford's top volume accounts

Starcraft Bus, Elkhart Coach and Glaval Bus finished first, second and third, respectively.

Tripling of insurance premiums confronts bus drivers in labor dispute

The cost of Blue Cross Blue Shield of Michigan coverage for The Rapid drivers is proposed to spike 49 percent Oct. 1, pushing up monthly premiums for family coverage by $669.

CapMetro plan would nearly triple high-frequency routes

The changes recommended in the Connections 2025 draft plan would be implemented in phases over the next 10 years.

French bus operator becomes first in Europe to accept Bitcoin

Isilines, a new long-distance passenger transport division of Transdev Group, has been using Bitcoin as a method of payment alongside traditional credit card payments on its website since early August.

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

Please sign in or register to .    Close