Wednesday, January 6, 2010

CODA Automotive Gets $25M More

Santa Monica-based CODA Automotive, a developer of electric cards, said Wednesday that it has raised $25M more in a first close of a Series C investment round. Source of the new funding was not disclosed. CODA said that the new funding will go towards final safety certification testing, and scale up production of its joint venture battery manufacturing facility. The firm said the new funds bring its total raised to $74M. CODA has previously raised funding from Angeleno Group, Piper Jaffray, and a number of individuals. More information »