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Boston-Power

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Boston Power manufactures portable power products such as application-specific rechargeable lithium-ion batteries

Westborough, United StatesFounded 2005Transportation

Valuation $250–500M Last recorded · 2010

Headcount <100 Current team size

Total funding $100–500M Disclosed equity funding

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About Boston-Power

Boston-Power specializes in the development and manufacturing of next-generation lithium-ion batteries, including cells, blocks, modules, and complete systems. The company was founded in 2005 by Dr. Christina Lampe-Onnerud, a Swedish inorganic chemist and battery inventor. Lampe-Onnerud, drawing on her extensive experience in the battery industry, including a period at Bell Communications Research and as a partner at Arthur D. Little, established the company to create longer-lasting, faster-charging, and safer battery technologies.

The company's business model revolves around supplying its battery products to a diverse client base across several key markets: transportation, utility energy storage, and portable power. Its revenue is generated through the sale of its flagship product lines, Swing® and Sonata®. The Swing® product line is engineered for high-demand applications such as Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and utility-scale energy storage systems. The Sonata® line caters to the portable power market, delivering enhanced performance for applications like notebook computers and various industrial uses. A significant early milestone was a partnership with Hewlett-Packard (HP), where Boston-Power's batteries were used in a new line of environmentally friendly notebook batteries.

Initially headquartered in Westborough, Massachusetts, the company had ambitious plans for U.S. manufacturing, announcing intentions in 2009 to build a large facility in Auburn, MA. However, after failing to secure a significant U.S. Department of Energy grant, the company shifted its manufacturing focus. In 2011, backed by a substantial investment round led by GSR Ventures and supported by Chinese government incentives, Boston-Power expanded its operations in China, establishing R&D and manufacturing facilities there to scale up production, particularly for the electric vehicle market. Founder Christina Lampe-Onnerud transitioned from CEO to executive chairman, and the company has had subsequent leadership changes. She later founded Cadenza Innovation in 2012.

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At a glance

Status: Operational
Founded: 2005
Headquarters: Westborough, United States
Employees: 75
Open positions: None listed
Dealroom signal: 71.0/100
Industry: Energy, Transportation
Sub-industry: Energy Storage, Vehicle Production
Sector: Transportation, Consumer Electronics, Lithium-Ion Batteries, Sustainable Development Goals, EV Battery, Climate Tech, Electric Mobility, Hard Tech
Business model: Manufacturing
Client focus: b2c
Links: Website LinkedIn

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Funding history

9 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
DEBTDebt	Feb 2015	$20M	—	GSR Ventures	—
GROWTH EQUITY VCOther financing	Dec 2011	$30M	—	Oak Investment · GSR Ventures · Foundation Asset Management	—

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Growth signals

Boston-Power website traffic

Latest recorded traffic for Boston-Power is 590 monthly website visits, up 78.8% over the last three months. Boston-Power's team declined 1.3% over the past year.

Latest monthly visits590 3-month web change+78.8% 1-year team growth-1.3%

Monthly website visitsApr 2016–Sep 2024

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