January 3, 2008
Westborough Co. Charged About New Funding
By Matthew L. Brown
Westborough-based Boston-Power Inc. , which makes long-lasting lithium-ion batteries, announced that it has received $45 million in new venture funding.
The new round of funding is the company's third, and it will use the money for business development, marketing, research and development and manufacturing. The funding round was led by Boston-Power backer Oak Investment Partners as well as international venture capital firms Venrock Associates and Granite Global Ventures.
To date, Boston-Power has raised $68 million.
The company's efforts are focused on its Sonata lithium-ion battery, which is meant for use in notebook computers. The company's batteries will be manufactured by GP Batteries.
The new round of funding is the company's third, and it will use the money for business development, marketing, research and development and manufacturing. The funding round was led by Boston-Power backer Oak Investment Partners as well as international venture capital firms Venrock Associates and Granite Global Ventures.
To date, Boston-Power has raised $68 million.
The company's efforts are focused on its Sonata lithium-ion battery, which is meant for use in notebook computers. The company's batteries will be manufactured by GP Batteries.
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