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§ Private Profile · 2200 West Park Drive, Westborough, MA 01581
Lithium-ion battery technology company developing and manufacturing next-generation, sustainable cells and systems for diverse applications.
Founded in 2005 by Christina Lampe-Önnerud, Boston-Power is a Westborough, Massachusetts-based manufacturer developing next-generation lithium-ion battery cells, blocks, modules, and systems. The company's flagship Swing and Sonata product lines deliver longer-lasting and faster-charging power storage solutions for electric vehicles, utility energy storage, notebook computers, consumer electronics, medical devices, and military applications. Operating with a dedicated workforce of approximately 80 employees, the enterprise generated $37.5 million in annual revenue during the 2024 fiscal year. To support its manufacturing scale, Boston-Power has secured $241.4 million in total venture capital funding from prominent lead investors including GSR Ventures, Oak Investment Partners, and Foundation Asset Management. This financial backing includes a $30 million private equity injection led by GSR Ventures, allowing Chief Operating Officer Eric Tu to expand their innovative and sustainable battery technologies across global industrial markets.
Boston Power has raised $348.0M across 8 funding rounds.
Boston Power has raised $348.0M in total across 8 funding rounds.
Boston Power has raised $348.0M across 8 funding rounds. Most recently, it raised $30.0M Other Equity in December 2011.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 22, 2011 | $30M Venture Round | GSR Ventures | Foundation Asset Management, OAK Investment Partners | Announced |
| Sep 20, 2011 | $125M Venture Round | Sonny WU | Richard Nilsson, Bandel Carano | Announced |
| Jun 1, 2010 | $60M Series E | — | Norwest Venture Partners, Relay Ventures, Foundation Asset Management, Gabriel Venture Partners, Bandel Carano, Anthony Evnin | Announced |
| Jun 4, 2009 | $9M Grant | MassVentures | — | Announced |
| Dec 1, 2008 | $55M Series D | — | Azolla Ventures, Norwest Venture Partners, Relay Ventures | Announced |
| Dec 1, 2007 | $45M Series C | — | Azolla Ventures, Norwest Venture Partners, Relay Ventures | Announced |
| Jan 1, 2007 | $16M Series B | — | Azolla Ventures, Norwest Venture Partners, Relay Ventures | Announced |
| Nov 1, 2006 | $8M Series A | — | Azolla Ventures | Announced |
Boston Power has raised $348.0M in total across 8 funding rounds.
Boston Power's investors include GSR Ventures, Foundation Asset Management, Oak Investment Partners, Sonny Wu, Richard Nilsson, Bandel Carano, Norwest Venture Partners, Relay Ventures, Gabriel Venture Partners, anthony Evnin, MassVentures, Azolla Ventures.
Boston-Power is an energy storage technology company specializing in lithium-ion battery engineering and manufacturing for electric vehicles (EVs), energy storage systems (ESS), and applications in industrial, consumer, medical, and military sectors.[1][2] It develops high-energy-density batteries with nickel-based cathode chemistry, offering advantages like wide operating temperature range, long life, and enhanced safety, primarily serving EV manufacturers and industries needing reliable power solutions.[1][5] The company solves challenges in battery performance, such as energy density and durability, though it faced setbacks including reduced operations by 2017.[4]
Boston-Power was founded in January 2005 by Christina Lampe-Onnerud and is headquartered in Boston, Massachusetts, as a privately owned lithium-ion battery manufacturer.[1] Lampe-Onnerud's background in battery technology drove the company's focus on innovative nickel-based cathode materials and cell designs for diverse applications, from portable electronics to EVs and stationary storage.[1] Early traction included a 2016 interview highlighting its technology for high energy density and safety, positioning it as a promising startup in Massachusetts' energy-tech scene, though it later scaled back its Westborough presence amid challenges.[1][4]
Boston-Power rode the early 2000s surge in lithium-ion advancements amid rising demand for EVs and renewable energy storage, capitalizing on needs for safer, higher-density batteries.[1][3] Its timing aligned with the pre-2010s EV boom, influencing Massachusetts' startup ecosystem as a high-profile energy-tech player before operational cuts in 2017.[4] Market forces like EV adoption and ESS growth favored its tech, but competition from scaled manufacturers likely pressured it; the company contributed to battery innovation discussions without dominating the ecosystem long-term.[1][2]
Boston-Power's legacy lies in pioneering safer lithium-ion tech for EVs and beyond, but post-2017 downsizing suggests limited current momentum—its website remains active, hinting at persistence.[1] Next steps may involve niche consulting or revival amid ongoing battery demands from EVs and ESS, shaped by trends like solid-state batteries and supply chain localization.[2][5] Its influence could evolve through alumni impact or tech licensing, underscoring how early innovators fuel broader energy storage progress despite commercial hurdles.