As part of its investment, Oak Investment Partners Managing Partner Bandel Carano has joined Boston-Power's board. Till now, Boston-Power has raised more than $68 million in funding.
The company said it would utilize the fund to scale business development, marketing, research and development, and manufacturing operations for Sonata, the company's next-generation Lithium-ion battery technology. Sonata initially targets notebook computers. Eventually, the company's products could be used to power an extensive range of end-applications - from consumer electronics devices to hybrid electric vehicles.
In addition, Boston-Power said that it has entered into a manufacturing partnership with GP Batteries.
Further, the company said that it has appointed two executives to its management team.
Declan Shalvey has been appointed as chief operating officer. He has more than 20 years of experience in operations, manufacturing, supply chain management, customer service, and multinationals throughout the U.S., Asia and Europe.
Robert Andersen has joined the company as chief financial officer. He has 30 years of executive-level financial leadership with many leading companies.
Additionally, the company has appointed Granite Global Ventures Managing Partner, Scott Bonham, to its board. Bonham succeeds fellow GGV Managing Partner, Thomas Ng.
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