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.
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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 R&D 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?