Thursday, January 6, 2011

CODA Holdings Raises $76M

Santa Monica-based CODA Holdings, the developer of electric vehicles and related battery systems, said today that it has raised $76M in an initial close of a Series D investment round. The new funding was led by Harbinger Capital Partners and Riverstone Holdings LLC. CODA said other investors in the round include founder Miles Rubin, Inerim CEO Steven "Mac" Heller, AERIS Capital, and Angeleno Group. Both Harbinger and Riverstone Holdings will gain a seat on the board as part of the funding. CODA said the new funds will go towards the start of production for its CODA Sedan, as well as for sales and marketing, and investments in its joint venture for battery production. More information »

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