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

2 NJ Transit buses collide in Lincoln Tunnel

Of the 20 people injured, none were considered serious and 13 were transported by New York City EMS to hospitals.

AC Transit launches on-demand bus service

Riders using a desktop computer, smart phone device or traditional telephone can schedule their pick-up and desired drop-off locations: reducing their wait time, arriving at their destination faster, and increasing the overall rider experience.

MVTA 'Bus on Shoulder' vehicles equipped with MTS guidance tech

The advanced Driver Assist System, utilizing a licensed GPS technology developed by the University of Minnesota, provides feedback to the driver regarding lane position – via graphic driver alert displays, virtual mirror, vibrating seat and actuated steering.

ABC Companies sells Ameritrans Bus assets

In an overall business review, it was determined this division no longer fit in ABC's overall growth strategy. The company will continue to provide parts and warranty support for Ameritrans products.

N. Va. Transportation Commission approves BRT plan

Planners estimate the new, 11-mile Tysons Corner to Alexandria bus system would attract about 8,600 new transit riders per day.

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