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The Daily Startup: Electric-Vehicle Charging Co. Better Place Plugs In $50M as it Reevaluates Plans

Better Place has closed on $50 million toward a $100 million convertible note round from two existing investors, as new management of the operator of charging infrastructure for electric vehicles reevaluates its ambitious and expensive business plan. The company’s investors in the convertible note round are its primary backers Israel Corp. and HSBC Holdings HSBA.LN -0.05%

HSBA.LN -0.05%, according to Joe Paluska, spokesman for Better Place. “No other majors joined the round,” Paluska said in an email. Better Place’s large investors, which didn’t participate, are VantagePoint Capital Partners and Morgan Stanley MS -1.56%
Source wsj.com

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