Fisker Automotive Secures $115,300,000 New Funding Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f6296c88-b247-41b0-b0c9-c093314bcc53&Preview=1
Date
1/15/2010
Company Name
Fisker Automotive
Mailing Address
19 Corporate Park Irvine, CA 92606
Company Description
The concept was created between two independent companies who clearly wanted to make a difference in not only the automotive industry, but to the environment as well. Fisker Coachbuild, LLC and Quantum Technologies announced this joint venture partnership. Fisker Coachbuild will provide exclusive design services for Fisker Automotive while Quantum Technologies (QTWW – a publicly traded company) will provide the latest technological advancements. Each car will feature cutting-edge plug-in hybrid penned as Q DRIVE exclusively for all Fisker Automotive vehicles.
Website
http://www.fiskerautomotive.com
Transaction Type
Venture Equity
Transaction Amount
$115,300,000
Transaction Round
Undisclosed
Proceeds Purposes
This funding is necessary for Fisker Automotive to access a $528.7 million U.S. Department of Energy conditional loan that will, in part, help speed completion of the Fisker Karma, the company’s first plug-in hybrid.
M&A Terms
Venture Investor
A123Systems
Venture Investor
Ace Investments
Venture Investor
Kleiner Perkins Caufield & Byers