Boston-Power Lands $55M
Westborough-based Lithium-ion battery maker Boston-Power Inc. has brought in $55 million in new venture funding.
The company, which recently announced that it would bring its Sonata line of batteries for notebook PCs to market with computer giant HP, said the new financing would fund growth in manufacturing, sales, marketing and research and development.
Since its founding in 2005, Boston-Power has received $125 million in venture funding. The latest is the company's "D" round and was lead by Foundation Asset Management and also included Oak Investment Partners, Venrock, GGV Capital and Gabriel Venture Partners.
Along with the investment, Venrock partner Tony Evnin was named chairman of Boston-Power's board of directors.
Boston-Power says it has developed Lithium-ion batteries that are more dependable, longer lasting and more environmentally friendly than others. The company intends to bring its technology to a variety of applications, including transportation.
WBJ Web Partners
Most Recent
Most Recent
0 Comments