Lilliputian Systems Raises $40M
Lilliputian Systems, Inc., a Wilmington MA-based developer of portable power products for consumer electronics, has closed on $40m of a planned $60m equity financing.
The round was led by RUSNANO, which joins current investors Intel Corporation, Kleiner Perkins Caufield & Byers, Altira Group, Stata Venture Partners, Atlas Venture, and Fairhaven Capital.
The company intends to use the capital to scale manufacturing operations and launch its initial product, the USB Mobile Power System (MPS), a portable system for powering and charging virtually all mobile phones and countless other consumer electronic devices.
In conjunction with the transaction, the company plans to open a business development office and a research and development and manufacturing facility in Moscow. RUSNANO Managing Director Georgy Kolpachev will become a member of Lilliputian’s board of directors.
The company is led by CEO Ken Lazarus.