Boston-Power investors Oak Investment Partners and Foundation Asset Management also participated in the financing.
The investment follows Boston-Power’s September 2011 announcement of $125m in growth capital and Chinese government stimulus programs.
The $125m financing is being used to scale manufacturing, research and development, and business development activities in China for the company’s energy storage technology and products.
Boston-Power recently broke ground on its new manufacturing site in Liyang, and is scheduled for completion by the end of next year.
The facility will be capable of producing 400MWh of lithium-ion battery cells annually.
GSR Ventures is an early-stage venture capital firm focused on building world-class technology companies in China.
Oak Investment Partners is a venture capital firm with a strong track record as a multi-stage investor.
