Tesla Motors Secures $45 Million Series D Round
11 May 2007
Tesla Motors, a manufacturer of high-performance electric cars, completed a $45 million Series D investment round.
The round was co-led by Technology Partners, a venture capital firm with a focus on Cleantech and Life Sciences, and by Elon Musk, entrepreneur and CEO of Space Exploration Technologies (SpaceX.) An additional significant investment was made by Capricorn Investment Group, a private investment firm.
All major investors from prior rounds of financing fully participated in this round, including Vantage Point Venture Partners, Draper Fisher Jurvetson, JP Morgan Bay Area Equity Fund, Valor Equity Partners and Compass Venture Partners.
The financing will be used for the continued development of the WhiteStar program, a four-door, five passenger sports sedan planned for introduction for the 2010 model year, the establishment of company-owned sales and service infrastructure, and the mass-production of the Tesla Roadster. To date, the company has taken over 400 reservations for the Roadster.
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