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Tesla Motors Revs Up With $45 Million Funding

Monday, May 14, 2007 5:00:00 AM PDT | VentureDeal Staff

SAN MATEO, CA -- Electric car maker Tesla Motors announced $45 million in new funding from a syndicate of venture capital and private equity firms.

Tesla designs and sells all-electric sports cars and intends to begin selling a four door sedan in the 2008 model year.  The company previously sold out of a 400 car production run for 2007.

Funding was provided by Technology Partners, Capricorn Management, VantagePoint Venture Partners, Draper Fisher Jurvetson, JP Morgan Partners, Compass Technology Partners, Valor Equity Partners and Elon Musk.

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