Coda Holdings Raises Another $147 Million

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Los Angeles electric-vehicle and battery developer Coda Holdings has completed a $147 million funding round.

The Series D round brings the total money raised by the company to $300 million and was led by new investor New World Strategic Investment Limited. Other new investors included Indus Capital, Och-Ziff, AERIS Capital, Angeleno Group, Harbinger Capital Partners and Riverstone Holdings. Some high net-worth individuals participated but were not identified.

Coda late Monday said the money will support this year’s planned U.S. launch of its five-passenger Coda sedan, and additional development of its energy-storage and propulsion systems, which the company also plans to sell to other electric vehicle manufacturers.

“The closing of our Series D funding and strategic partnership with New World, continues to demonstrate the high level of international commitment that exists in developing and supporting the electric vehicle, EV propulsion and energy storage industries,” said Chief Executive Phil Murtaugh in a statement.

The company last week acquired EnergyCS, a Monrovia developer of battery management systems that has been one of its development partners. Last month, it signed a letter of intent to develop electric vehicles with Chinese vehicle manufacturer Great Wall Motor Co.

Investors in the first part of the Series D round included company founder Miles Rubin, Executive Chairman Steven “Mac” Heller, AERIS Capital, Angeleno Group, Harbinger Capital Partners and Riverstone Holdings.

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