Proterra Nabs $140 Million as Electric Bus Maker Targets 2017 IPO
- Silicon Valley startup makes fully electric transit buses
- Proterra sees funding round as last before IPO late this year
A rendering of Proterra's Catalyst E2 battery-powered bus.
Source: ProterraThis article is for subscribers only.
Proterra Inc., a Silicon Valley maker of electric transit buses, said it raised $140 million as it accelerates manufacturing in the U.S. before a possible initial public offering this year.
The venture funding is the company’s fifth round, and Proterra Chief Executive Officer Ryan Popple said he expects it to be the last before taking the company public late this year or in 2018. Proterra declined to name the lead investor in the latest financing round, saying it includes several new and existing backers, including Tao Capital Partners, Kleiner Perkins Caufield & Byers and General Motors Co.’s venture arm.