Tesla Motors Secures $40,000,000 New Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d3a6b81d-0e6a-4a38-be30-5b0ed0a008cf&Preview=1
Date
11/3/2008
Company Name
Tesla Motors
Mailing Address
1050 Bing Street San Carlos, CA 94070
Company Description
Tesla Motors was founded in June 2003 by Martin Eberhard and Marc Tarpenning to create efficient electric cars for people who love to drive. The company currently employs 70 people, including teams in California, the UK and Taiwan. The background and experience of Tesla’s employees mirrors the vehicle itself, drawing from diverse expertise in the electronics, automotive and Internet industries.
Website
http://www.teslamotors.com
Transaction Type
Debt
Transaction Amount
$40,000,000
Transaction Round
Undisclosed
Proceeds Purposes
The financing will be used primarily to accelerate manufacturing of the Tesla Roadster, an all-electric, high performance sports car. In addition, the funds will be used to expand Tesla’s electric powertrain supply business and continue future product development.
M&A Terms
Venture Investor
Undisclosed