Proterra Raises $55 Million as Electric-Bus Maker Preps for IPO
- Al Gore’s Generation Investment Management led funding round
- BMW i Ventures also joined fundraising for clean-bus startup
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Environmentalist Al Gore continues to put his money where his mouth is, with his investment management firm leading a $55 million fundraising round for clean-bus maker Proterra Inc.
The Silicon Valley maker of electric transit buses said Tuesday it raised $55 million as it prepares for a possible initial public offering later this year. Generation Investment Management LLP -- whose chairman is the former vice president -- led the round. It was joined by BMW i Ventures, the corporate venture capital team founded by BMW Group in 2011.