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Boston-Power Closes Series C Financing Of $45 Million

Friday, January 4, 2008 6:12:00 AM PDT | VentureDeal Staff
WESTBOROUGH, MA -- Battery technology company Boston-Power announced that it has closed its third round of venture capital financing, securing $45 million for expansion.

The company has developed safer and longer-lasting Lithium-ion batteries by designing application-specific batteries.

Oak Investment Partners led the round, which included previous investors Venrock Associates, Granite Global Ventures and Gabriel Venture Partners.  Boston-Power said it would use the funding proceeds to scale every aspect of the company's sales, marketing and product development operations.

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