Funding: Phoenix Motorcars


Last week it was Venture Vehicle’s series A round, and this week Dan Primack at PEHub says that electric SUV and truck maker Phoenix Motorcars is in the process of raising a $15 million series A round from Kleiner Perkins Caufield & Byers, Virgin Fuels and AES Corporation.

Founded in 2001, the Rancho Cucamonga, Calif startup uses battery technology from Altairnano, and motor drive system technology from UQM Technologies. According to the company’s website the electric vehicles have a range of roughly 130 miles. The company mainly sells fleet vehicles to companies right now, but will offer consumer vehicles next year. Primack says that the company plans to raise an additional $85 million sometime in 2008.

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