With the deal, the Troy, Mich., company becomes the latest GSR-funded electric-vehicle firm to set up manufacturing in China. Last year, battery maker Boston-Power raised more than $125 million to construct a Chinese manufacturing plant for its lithium-ion batteries.
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Boston-Power Inc. said it raised $30 million in new private equity. Existing investor GSR Ventures led the deal and Oak Investment Partners and Foundation Asset Management participated. The funding is an add-on to the $125 million round of funding the lithium-ion battery company announced in September. The September round included growth capital and Chinese government [...]
Boston-Power Inc. announced today that it has raised $125 million in new venture and Chinese government financing as part of a major corporate shakeup that will lead to the construction of a lithium-ion battery factory in China. The Westborough, Mass.-based company said the new equity round is led by Beijing-based GSR Ventures and joined by [...]
Boston-Power Inc., a Westborough, Mass.-based developer of lithium-ion batteries, has raised $55 million in fourth-round funding. Foundation Asset Management led the round, and was joined by return backers Oak Investment Partners, Venrock, GGV Capital and Gabriel Venture Partners. The company has now raised around $125 million in total VC funding since 2005.