Lilliputian Systems, a Wilmington, Massachusetts-based developer of portable power products for consumer electronics ranging from mobile phones to tablets, e-readers, MP3 players and laptops, today announced that it has closed on $40 million of a planned $60 million equity financing round.
The investment was led by Moscow-based $10 billion investment fund RUSNANO, which focuses on the development of the Russian nanotechnology industry through co-investments in projects. RUSNANO says it invested $25 million.
Prior backers like Intel, Kleiner Perkins Caufield Byers, Altira Group, Stata Venture Partners, Atlas Venture and Fairhaven Capital also participated in the round.
Lilliputian says it aims to close the full $60 million round in early 2013.
The capital is meant to enable Lilliputian to scale manufacturing operations and launch its initial product, the USB Mobile Power System (MPS), a lightweight portable system for powering and charging virtually all mobile phones and other consumer electronic devices.
As part of the transaction, Lilliputian plans to open a business development office and an RD and manufacturing facility in Moscow.
RUSNANO MD Georgy Kolpachev will join Lilliputian’s board of directors.
Lilliputian says its patented Silicon Power Cell technology, originally developed at the MIT, includes a chip-based power generator and is fueled by recyclable high energy fuel cartridges. Here’s what Lilliputian promises to deliver:
The USB MPS is a compact, lightweight and portable device that powers and charges a variety of consumer electronic products, such as smart phones, tablets, mp3 players, eReaders, Bluetooth headsets and digital cameras – virtually any USB compatible device.
This game-changing product has the capacity to power/recharge consumer electronic devices for several weeks on a single power cartridge without the need for traditional wall outlets, providing true wireless mobility.
I, for one, am rooting for them because that’s what we all want, right?