ImpactAlpha, October 19 – Burlingame, Calif.-based electric bus maker Proterra has raised $200 million, backed by Cowen Sustainable Advisors, Soros Fund Management, Generation Investment Management, and Broadscale Group. Obvious Ventures was an early investor (see, “Talking trillion-dollar sustainability disruptions with Obvious Ventures’ Andrew Beebe”).
Proterra and other electric vehicle makers are on a fundraising tear, as policymakers seek to accelerate the shift to electric transport. Four electric vehicle makers have plans to go public through special purpose acquisition companies, or SPACs. California-based Motiv recently raised $15 million to speed the transition of standard commercial fleets to electric. U.K.-based Arrival is planning to open a small factory to make its electric delivery vans near Charlotte.