What is Proterra?
Founded in 2004 and headquartered in Burlingame, California, Proterra designs and manufactures advanced electric transit buses and high-performance energy storage systems. The company operates at the intersection of automotive engineering and grid-scale energy management, providing municipalities and commercial fleet operators with the infrastructure necessary to transition away from fossil fuels. By integrating its battery technology into both its own vehicle platforms and third-party applications, Proterra has established itself as a critical player in the global push toward zero-emission public transportation.
How much funding has Proterra raised?
Proterra has raised a total of $817.9M across 17 funding rounds:
Series B
$23M
Series C
$34.2M
Private Equity
$38.8M
Multiple Rounds
$58M
Series E
$140M
Series F
$55M
Other Financing Round
$155M
Debt
$5M
Other Financing Round
$200M
Series B (2012): $23M led by Kleiner Perkins Caufield & Byers, 88 Green Ventures, Global Investment Partners, Hennessey Capital, Vision Ridge Partners, NMT Capital, GM Ventures, and Mitsui & Co Global Investment
Series C (2013): $34.2M supported by Kleiner Perkins Caufield & Byers, Tao Invest, 88 Green Ventures, Mitsui & Co., GM Ventures, and Hennessey Capital
Private Equity (2014): $38.8M featuring Vision Ridge Partners, GM Ventures, and Kleiner Perkins Caufield & Byers
Grant (2015): $3M backed by California Energy Commission
Series D (2015): $30M, investors not publicly disclosed
Debt (2015): $25M led by Hercules Technology Growth Capital
Series E (2017): $140M supported by Edison Energy, Kleiner Perkins, Tao Capital Management, 88 Green Ventures, and GM Ventures
Series F (2017): $55M featuring BMW and Generation Investment Management.
Other Financing Round (2018): $155M backed by Tao Capital Management, Daimler, and G2 Venture Partners
Debt (2020): $5M with participation from PPP
Other Financing Round (2020): $200M led by Generation Investment Management, Cowen Sustainable Advisors, Soros Fund Management, and Broadscale Group
Key Investors in Proterra
Kleiner Perkins
A Menlo Park-based venture capital firm that invests in early and growth-stage technology and life science companies, providing operational support from seed through IPO.
GM Ventures
The venture capital arm of General Motors, focusing on automotive-related technology startups to foster innovation in zero-emission transportation.
Generation Investment Management
An investment firm dedicated to sustainable economic systems, mobilizing capital to address climate change and environmental degradation.
What's next for Proterra?
Following the infusion of $200M, Proterra is positioned to accelerate its manufacturing throughput and expand its energy storage footprint. The company's strategic roadmap likely involves scaling its battery production capacity to meet rising demand from municipal transit agencies and commercial logistics providers. As the regulatory environment increasingly favors decarbonization, Proterra is expected to leverage its established partnerships with automotive incumbents and sustainable infrastructure investors to maintain its competitive edge in the rapidly evolving electric mobility market.
See full Proterra company page
