Proterra Closes $55m Series 6 Funding Round

Proterra, a Burlingame, Calif.-based developer of heavy-duty electric transportation, closed a $55m Series 6 funding round.

The round, which came on the heels of an oversubscribed $140m Series 5 in January, was led by Generation Investment Management LLP, with participation from BMW i Ventures.

The company intends to use the funds to increase production at its manufacturing facilities in South Carolina and Los Angeles, while also bolstering research and development efforts at the company’s headquarters in Silicon Valley.

Led by Ryan Popple, CEO, Proterra designs and manufactures zero-emission heavy-duty vehicles, enabling bus fleet operators to reduce operating costs while delivering clean transportation to local communities across the United States. The company has sold more than 400 vehicles to 39 different municipal, university, and commercial transit agencies in 20 states.



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