Proterra, a Silicon Valley-based electric bus maker that may be eyeing an IPO, has a new fundraising round in the works that likely pushes the company to a unicorn-class valuation of $1 billion, according to a monitor of high-value startups.
The supplier of transit buses to cities across the U.S., which employs dozens of former Tesla engineers and executives, registered a private equity sale on August 2 that could raise up to $75 million, according to Prime Unicorn Index, a company that tracks the share price performance of private companies valued at $500 million or more. If it raises the maximum amount, Proterra’s cumulative funding will reach at least $600 million in addition to buoying its valuation.
Read the article at: Forbes
