Proterra Nabs $140 Million as Electric Bus Maker Targets 2017 IPO

Proterra, a Silicon Valley startup and maker of fully electric transit buses, said it raised $140 million as it accelerates manufacturing in the US before a possible initial public offering this year.
As quoted in the press release:

The venture funding is the company’s fifth round, and Proterra Chief Executive Officer Ryan Popple said he expects it to be the last before taking the company public late this year or in 2018. Proterra declined to name the lead investor in the latest financing round, saying it includes several new and existing backers, including Tao Capital Partners, Kleiner Perkins Caufield & Byers and General Motors Co.’s venture arm.
“The size of the round and the diversity of our investors reflects what we’re seeing around the world as institutions and businesses divest from fossil fuels,” Popple said.

Click here for the full text release.