Lilliputian Systems Announces $60 Million Equity Financing

Lilliputian Systems Announces $60 Million Equity Financing PR Newswire WILMINGTON, Massachusetts, Sept. 14, 2012 WILMINGTON, Massachusetts, Sept. 14, 2012 /PRNewswire/ -- Lilliputian Systems, Inc. (Lilliputian), a developer of portable power products for consumer electronics, is pleased to announce it has closed on $40 million of a planned $60 million equity financing round led by a $25 million investment from the Russian $10 billion investment fund RUSNANO, headquartered in Moscow. RUSNANO, which focuses on the development of the Russian nanotechnology industry through co-investments in nanotechnology projects, joins Lilliputian's current blue chip investors including Intel Corporation, Kleiner Perkins Caufield & Byers, Altira Group, Stata Venture Partners, Atlas Venture, and Fairhaven Capital. The capital will enable Lilliputian to scale manufacturing operations and launch its initial product, the USB Mobile Power System (MPS), a revolutionary portable system for powering and charging virtually all mobile phones and countless other consumer electronic devices. As part of 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. "We are happy to announce this round of financing," said Lilliputian CEO Ken Lazarus.