Better Place $50M Closer to Making the World a Better Place
December 06, 2012
According to a recent SEC filing, Better Place has raised $50 million of a planned $100 million in debt and equity financing. Based in Palo Alto and Israel, the company is working to create an infrastructure that will make electric cars accessible, affordable and practical—starting with “charge spots” installed in owners’ homes, a switchable battery and a built-in, computerized “driver support system”. Funding for the company has been tremendous, with well over a billion dollars rolling in since its 2007 inception. Investors so far include Ampal, General Electric, HSBC Holdings, Lazard Asset Management, LEND Lease, Maniv Energy Capital, Morgan Stanley, Ofer Hi-Tech, UBS and VantagePoint Capital Partners.