The World's Only
Flashlight Industry News Site

Lilliputian Systems Adds Funding
for Fuel-Cell Portable Charger

Announced that it has secured an additional $28 million in venture funding

Lilliputian Systems, Inc. Press Release

FlashlightNews.org - 4/8/2009


Click photo to enlarge

Lilliputian Systems Fuel-Cell Charger

Lilliputian Systems Fuel-Cell Charger

WILMINGTON, Ma. - Lilliputian Systems, Inc. (lilliputiansystemsinc.com), developer of the world's first Personal Power™ solution for consumer electronic (CE) devices, today announced the closing of an additional $28M in financing, the addition of Ray Stata to its Board of Directors and the appointment of Michael Umana as EVP and CFO.

Lilliputian Systems announced that it has secured an additional $28 million in venture funding. Joining its current investors, which include Kleiner Perkins Caufield Byers of Menlo Park, CA (kbcp.com), Atlas Venture of Waltham MA (atlasventure.com), Fairhaven Capital of Cambridge, MA (fairhavencapital.com) and Rockport Capital of Boston, MA (rockportcap.com), are two new investors: Stata Venture Partners of Westwood, MA and Altira Group LLC of Denver, CO (altiragrpoup.com), both of whom will join the Board. In addition, Argonaut Private Equity of Tulsa, OK has joined the investment group.

In conjuction with the financing, Mr. Ray Stata, the co-founder and Chairman of the Board of Analog Devices, Inc. (www.analog.com), a Fortune 1000 and S&P 500 company will join Lilliputian's Board of Directors effective immediately. Stata Venture Partners is a private equity fund that invests in early stage new business opportunities around the world. Mr. Stata is Founder and Principal of the firm and has been active in the high technology industry and public service for over 20 years including work with the Massachusetts High Technology Council and The Council on Competitiveness. Among his numerous awards include election to both the National Academy of Engineering and American Academy of Arts and Sciences, as well as being a recipient of the IEEE Founder's Medal.

"We could not be more pleased to have Ray join our board." said Ken Lazarus, CEO of Lilliputian Systems. "His knowledge, insight, and contacts - not to mention his vast experience in bringing MEMS products to market, will help propel Lilliputian Systems as a commercial force in the CE industry."

"Stata Venture Partners' financial support and my personal commitment to join the board serve as strong endorsement of Lilliputian's technology and business model." said Mr. Stata. "This funding will help ensure the timely commercial launch of Lilliputian's products."

The Altira Group's fund is committed to building a future of efficient, sustainable energy by pioneering full-spectrum investments in the energy sector. Hull McKinnon, Principal and CFO at Altira will also join Lilliputian's Board of Directors. "Hull's presence further validates the impact that Lilliputian's products will have in providing a clean tech solution for today's CE devices." said Mouli Ramani, Vice President of Business Development at Lilliputian Systems. "The Altira Group recognizes that our products will dramatically reduce the carbon footprint of literally billions of devices worldwide."

Search for other press releases from Battery Chargers





Current FlashlightNews Headlines
Translate