Proterra Raises $140M To Ramp Production, Hiring In Los Angeles County

Electric bus maker Proterra announced this morning that it has raised $140M in an equity funding round, a chunk of which will go towards ramping up initial production in the City of Industry, and hiring "key personnel" in Los Angeles and elsewhere for its electric bus manufacturing. According to Proterra, which is based in the Bay Area, the Series 5 round of funding was led by a $40 million investment from an undisclosed investor, an additional $60 million from several new investors, and also included Tao Capital Partners, Kleiner Perkins, GM Ventures, Constellation Technology Ventures, 88 Green Ventures, Edison Energy, Inc. The funding was managed by J.P. Morgan. More information »