June 25, 2010
Boston-Power Lands $60M Investment
By Matthew L. Brown
Westborough-based lithium-ion battery developer Boston-Power Inc. said it has landed $60 million to expand manufacturing, sales, marketing and research and development.
The funding came in a Series E round co-led by Foundation Asset Management and Oak Investment Partners, both of which have previously invested in Boston-Power.
Current investors Venrock and Gabriel Venture Partners also participated in the funding round.
Since its founding in 2005, Boston-Power has brought in investments totaling $185 million.
Last year, the company began supplying long-life lithium-ion batteries to computer giant HP for use in its notebook PCs.
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