Monday, June 13, 2011

Proterra Banks $30M For Electric Buses

Golden, Colorado-based Proterra, which makes zero-emission electric transit buses, said today that it has raised $30M in a funding round. The round was led by Kleiner Perkins Caufield & Byers, GM Ventures, Mitsui & Co., Ltd., Vision Ridge Partners and 88 Green Ventures, LLC. The firm said the funding will go toward commercializing its products. Proterra develops electric, automatically charged buses used for public bus service. The firm said its buses are now being used in Pomona, California, and will be rolling out in San Antonio and Tallahassee later this year. Proterra is headed by Jeff Granato. Notably, KPCB's investment in Proterra included former U.S. Vice President Al Gore. More information »