This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXNPEB9606Q_M.jpg
The company received $150 million from Cowen Sustainable Advisors LLC and $50 million from Soros Fund Management, Generation Investment Management and Broadscale Group.
In July, sources told Reuters that Proterra was considering going public through a merger with a special-purpose acquisition company (SPAC).
Proterra, which counts car makers Daimler AG (DE:DAIGn) and BMW AG (DE:BMWG) among its investors, was last valued at $1.1 billion in a fundraising round in August 2019, according to PitchBook data.
The company could not be reached for comment on how the new fundraising has affected its valuation.
Burlingame, California-based Proterra was founded by mechanical engineer Dale Hill in Golden, Colorado, in 2004 and has provided hundreds of public transport buses to U.S. cities since inception.
