Proterra, a US-based maker of battery-powered electric buses, is reported by Fortune to have added $10m to its series C round, taking it to $34m.
Previously, in October 2013, Proterra announced that it had raised $24m in a series C funding round which included two new strategic electric industry investors, Edison Energy, a subsidiary of Edison International, and retail energy supplier Constellation, a subsidiary of US-based energy provider Exelon Corporation; previous investors who participated in the round included GM Ventures, the venture capital arm of General Motors, Mitsui & Co. Global Investment, the venture investment subsidiary of Japan-based trading company Mitsui & Co, Hennessey Capital, a division of financial services unit Hitachi Capital America Corp and part of the Japan-based engineering and electronics conglomerate Hitachi, venture capital firms Kleiner Perkins Caufield & Byers and Vision Ridge Partners, and 88 Green Ventures, the private investment vehicle of Mike Fitzpatrick.
The round valued Proterra at approximately $200m. Previously, Proterra raised $23m in series B funding in November 2012, led by Hennessey Capital.