20 Sep '11, 4am

Boston-Power Wins $125M From VCs, China for EV Batteries: Rumors of the death of greentech investing would see...

Boston-Power Wins $125M From VCs, China for EV Batteries: Rumors of the death of greentech investing would see...

Rumors of the death of greentech investing would seem to be exaggerated. Boston-Power , a Westborough, Mass.-based lithium ion battery startup, just raised $125 million in one of this year's largest VC funding rounds. (HelioVolt raised $50 million, Bloom Energy raised $150 million, and ClearEdge raised $73.5 million in the last few weeks.) That brings Boston-Power's VC total to more than $300 million since it was founded in 2005. The round was led by GSR Ventures, a VC firm with operations in China and offices in Beijing and Silicon Valley. Existing investors Oak Investment Partners and Foundation Asset Management also invested in the round. The Chinese government is providing grants, loans and incentives. Venrock, an earlier investor and holder of a board seat, was not listed as an investor in this round. I spoke with the enthusiastic founder, Dr. Christina Lampe-├ľnnerud,...

Full article: http://www.greentechmedia.com/articles/read/boston-power-...

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channelnewsasia.com 22 Sep '11, 12pm

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