Tesla has finalized an $82.5 million series F funding round, according to a spokeswoman for the company. Tesla raised $82.5 million in funding from Daimler, Fjord Capital Partners, Aabar and other undisclosed investors. We have been informed that Tesla CEO and PayPal founder Elon Musk was not an investor in this round. This adds to the $50 million Tesla received from Daimler in May, bringing the total amount invested in the electric car company to $783.5 million.
Telsa says the new funding will be used to accelerate Tesla’s retail expansion of the Model S. Tesla has already opened regional sales and service facilities in London, Munich, New York, Seattle and in California’s Silicon Valley and Los Angeles. It plans to open stores later this year in Monaco, Washington DC, South Florida and Toronto.
We hear that Tesla’s valuation increased from May but the company is not disclosing the amount. Tesla has been on a roll recently. They announced profitability, secured $465 million in government loans to build their next car plant and raised another $50 million in equity from Daimler that valued the company at $550 million.