Boston-Power Gets $30M
Westborough-based battery maker Boston-Power Inc. has received $30 million in new private equity funding.
The funding round was led by GSR Ventures of Beijing, an existing funder of the company. Two other firms that have funded the company before, Oak Investment Partners of Connecticut and Foundation Asset Management of Sweden, also took part in the round.
Boston-Power announced in September that it would move 30 jobs to China and continue its growth there, after receiving $125 million in private equity and Chinese stimulus funding.
The company says it recently broke ground on a new manufacturing facility in Liyang, which is part of the Shanghai Corridor. The plant is scheduled to be complete by the end of 2012.
Boston-Power is also building a research and development and engineering facility in Beijing.
WBJ Web Partners
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