Proterra, manufactuer of a new kind of electric bus, has raised $15m from the Silicon Valley Bank, to add to the $30m it received in June from backers including Mitsui and GM.
US-based electric bus manufacturer Proterra secured $15m in funding from venture debt provider the Silicon Valley Bank, a subsidiary of the SVB financial group, on Tuesday, and is planning to use the cash to finance increased production.
Proterra raised $30m in June from a pool of investors including General Motors’ corporate venturing unit GM Ventures, Japan-based conglomerate Mitsui’s corporate venturing division Mitsui Ventures, and venture capital firms Kleiner Perkins Caufield & Byers, 88 Green Ventures and Vision Ridge Partners.
Prior…
