This round of funding included two new strategic electric industry investors, Edison Energy Inc., a subsidiary of Edison International and Constellation.
Proterra Inc. closed more than $24 million in Series C financing round amid rising demand for its transit solutions. Support for this round of funding was bolstered by Proterra’s projected 225% revenue growth for the close of 2013.
This round of funding included two new strategic electric industry investors, Edison Energy Inc., a subsidiary of Edison International and Constellation. Edison and Constellation join Kleiner Perkins Caufield & Byers, GM Ventures, Mitsui & Co. Global Investment Inc., Vision Ridge Partners, Hennessey Capital and 88 Green Ventures to complete the round.
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In conjunction with the investment closing, Bert Valdman, president of Edison Energy, and Michael Smith, VP, head of technology ventures, for Constellation, will serve as observers to Proterra’s board.
The addition of the new electric industry funding partners is a critical development for Proterra, which is actively working with utility companies to develop strategies to optimize EV buses to leverage grid power distribution and ensure low cost energy alternatives. Proterra’s investors already include many top sustainable technology funding companies and automotive manufacturers, giving the company a competitive edge in terms of expertise and intellectual capital.
“The benefits of EV mass transit are compelling to a wide range of audiences,” said Garrett Mikita, CEO for Proterra Inc. “It offers significant cost savings to transit agencies; drastically reduces fuel consumption, air and noise pollution; and improves the quality of life of the communities it serves. This round of funding is not only an acknowledgement of the strength of the company and the industry, but of Proterra’s commitment to leadership and working with all key stakeholders, including the power supply industry, to create the most effective and efficient transit solutions on the market.”
Proterra will use Series C proceeds to fund production growth and product development efforts to keep pace with booming demand.
What truly drives the cost of a paratransit fleet? Beyond the purchase price, seven operational factors quietly determine maintenance frequency, downtime, and long-term service reliability. This whitepaper explores how these factors shape lifecycle cost and what agencies should evaluate when selecting paratransit vehicles.
In this conversation, TBC’s Executive Director Ed Redfern, President Corey Aldridge, and Washington Representative Joel Rubin outline the coalition’s key policy priorities, the challenges facing transit agencies, and how industry stakeholders can work together to strengthen the voice of bus transit at the federal level.
Originally introduced in 2023 as the Bus Line Redesign, the effort has evolved into a more targeted update that maintains familiar routes while improving reliability, frequency, evening and weekend service, and connections across Allegheny County.
S3 will connect communities along SR 522 with fast, reliable, battery-electric bus service from Shoreline South Station to Bothell via Kenmore and Lake Forest Park.
The configuration uses Ster Seating's Gemini seat platform to create a family-friendly floor layout specifically engineered to accommodate parents traveling with young children.
