Lilliputian Systems secures $28 Million in venture funding
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Wilmington: Lilliputian Systems, a developer of personal power solution for consumer electronic (CE) devices, has secured an additional $28 million in venture funding. Round was led by its existing investors include Kleiner Perkins Caufield Byers of Menlo Park, Atlas Venture of Waltham MA, Fairhaven Capital of Cambridge and Rockport Capital of Boston. The round also saw participation from two new investors including Stata Venture Partners of Westwood and Altira Group LLC of Denver, both of whom will join the Board. In addition, Argonaut Private Equity of Tulsa has joined the investment group. In conjunction with the financing, Ray Stata, the Co-founder and Chairman of the Board of Analog Devices, 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. Commenting on Ray Stata joining the board, Ken Lazarus, CEO of Lilliputian Systems, said, "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 Stata. "This funding will help ensure the timely commercial launch of Lilliputian�s products." Hull McKinnon, Principal and CFO at Altira will also join Lilliputian�s Board of Directors.

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