Proterra Inc., a battery electric bus manufacturer, has raised over $30 million to fund continued deployment of its zero-emission EV transit technology.
Based in Greenville, the company provides the design and production of clean technology and clean energy.
With Kleiner Perkins and GM Ventures leading the financing, the round of funding was heightened by the growing demand for electric vehicles and additional deployments by the existing customer base.
With transit agency customers in cities across the U.S. and meeting requests coming in from across the globe, Proterra is riding a wave of mounting interest, said Proterra CEO Ryan Popple.
“The performance of our buses in these cities has made a clear case for the benefits of EV,” he said. “The funding will allow us to continue our aggressive growth trajectory.”
An additional $10 million in funding is expected to close within the coming weeks, brining the total to $40 million
Edison Energy Inc. and Constellation Technology Ventures have reinvested and expressed enthusiasm in the technology’s ability to allow the electrical grid to benefit consumers.
With Mitsui & Co. Global Investment Inc., and 88 Green Ventures set to follow by month’s end, Tao Invest, Vision Ridge Partners and Hennessey Capital also joined Kleiner Perkins and GM Ventures.
Joby Pritzker of Tao Invest said the electric bus manufacturing company is committed to clean technologies
“Proterra is a natural fit for this investment strategy, and has led the charge with electrifying transit,” he said.
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- Proterra Sells 10 Electric Buses to TARC
- Proterra Moves Close to $200M
- Proterra Scores Biggest U.S. Sale
