Rusnano invests $25M in U.S. company Lilliputian Systems within the investment transaction totaling $40 M. The company plans to spend the money on the launch of a large-scale production of its first product - a mobile power supply with USB connector (USB Mobile Power System - MPS) for charging cell phones and other electronic devices. RUSNANO Managing Director Georgy Kolpachev will join the board of Lilliputian Systems.
This transaction is a part of the next investment round with the planned investment volume of $60M. The following existing investors of Lilliputian also participate in the round: Intel Corporation, Kleiner Perkins Caufield & Byers, Altira Group, Stata Venture Partners, Atlas Venture and Fairhaven Capital.
The investment agreement signed by Rusnano and Lilliputian Systems, Inc. provides for the opening of an office in Moscow for business development and a research division, as well as the establishment of a production site in Russia.
USB MPS is a compact and lightweight charger for smartphones, tablets, mp3-players, e-books, Bluetooth headsets, digital cameras, etc. The device with one replaceable cartridge can recharge electronic devices for a few weeks, and it eliminates the need to connect to a stationary power source and provides full mobility. The device uses Silicon Power Cell™ technology developed by the company and based on advances in nanotechnology. Cartridges for the device are safe, easy to use and inexpensive.
The decisive factor in the choice of RUSNANO as an investor was the ability to use Russian extensive scientific and technological resources, as well as the access to the fast-growing Russian market, - the CEO of Lilliputian company Ken Lazarus said.
We are confident that the technology developed by the company is far superior than its analogs, and their first product is focused on large and growing market niche, - RUSNANO Managing Director Georgy Kolpachev noted.