We are pleased to congratulate portfolio company Proterra for closing a $155 million round led by Germany’s Daimler, the top maker of commercial vehicles and the parent of Mercedes-Benz.
Proterra is a fast-growing maker of battery-powered buses that’s finding new uses and partners for its particular brand of heavy-duty electric vehicle expertise. The new funding boosts total investment in Proterra to about $600 million. Additionally, Burlingame, California-based Proterra will also develop new types of heavy-duty vehicles with Daimler, starting with school buses from its Thomas Built Buses division, the companies said in a statement.
You can read more about it here.