Gen¬≠er¬≠al Motors‚Äô ven¬≠ture cap¬≠i¬≠tal arm, GM Ven¬≠tures, has invest¬≠ed for a sec¬≠ond time in Pro¬≠ter¬≠ra Inc. and its bat¬≠tery-pow¬≠ered bus¬≠es. Pro¬≠ter¬≠ra is based in Greenville, S.C., and offers a pure bat¬≠tery elec¬≠tric, fast-charge bus, and will use the GM Ven¬≠tures invest¬≠ment to increase deliv¬≠ery of its EcoRide bus¬≠es to new cus¬≠tomers and mar¬≠kets. The EcoRide is able to com¬≠plete a fast charge in 10 min¬≠utes and has up to 40 miles of dri¬≠ving range per charge. The com¬≠pa¬≠ny says that it‚Äôs serv¬≠ing sev¬≠en tran¬≠sit author¬≠i¬≠ty cus¬≠tomers dur¬≠ing a time when sev¬≠er¬≠al munic¬≠i¬≠pal¬≠i¬≠ties and relat¬≠ed agen¬≠cies are adding more alter¬≠na¬≠tive fuel vehi¬≠cles to their fleets.
GM Ven¬≠tures is one of six com¬≠pa¬≠nies to invest a total of $23 mil¬≠lion in a new round of financ¬≠ing for Pro¬≠ter¬≠ra. In 2011, Pro¬≠ter¬≠ra received an addi¬≠tion¬≠al $6 mil¬≠lion in invest¬≠ment from GM Ven¬≠tures. That became part of $30 mil¬≠lion Pro¬≠ter¬≠ra raised at that time. For the cur¬≠rent round, oth¬≠er investors include Hen¬≠nessey Cap¬≠i¬≠tal Man¬≠age¬≠ment LLC, NMT Cap¬≠i¬≠tal, Klein¬≠er Perkins Cau¬≠field & Byers, Mit¬≠sui & Co. Glob¬≠al Invest¬≠ment Inc., 88 Green Ven¬≠tures and Vision Ridge Part¬≠ners. For GM Ven¬≠tures, Pro¬≠ter¬≠ra fits in well with its over¬≠all invest¬≠ment strat¬≠e¬≠gy of find¬≠ing invest¬≠ment oppor¬≠tu¬≠ni¬≠ties in advanced vehi¬≠cle tech¬≠nolo¬≠gies. GM Ven¬≠tures is also invest¬≠ing in con¬≠nect¬≠ed-vehi¬≠cle devices, advanced mate¬≠ri¬≠als for weight sav¬≠ings, and sen¬≠sors, proces¬≠sors and mem¬≠o¬≠ry that could aid autonomous dri¬≠ving.