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Lilliputian Systems Raises $11.2M - cbl
Posted June 22, 2011
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Hull McKinnon
By Bill Murphy
WILMINGTON, Mass. -- Lilliputian Systems Inc. has raised $11.12 million, or more than half of a $21 million offering of common stock, Series B convertible preferred shares and warrants convertible into Series B convertible preferred shares, according to an SEC filing. Fourteen investors bought the securities.
Principals named in the filing by the Wilmington, Mass.-based technology startup are:
· , partner in Denver, Colo.-based Altira Group;
· Analog Devices Chairman Ray Stata, who has invested through Needham Heights, Mass.-based Stata Venture Partners;
· Barry Fidelman of Cambridge, Mass.-based Atlas Venture;
· Russell Siegelman of Menlo Park, Calif.-based Kleiner Perkins Caufield & Byers;
· CEO Kenneth Lazarus;
· CFO Michael Umana; and
· Co-founder Sam Schaevitz
Lilliputian Systems, founded by former researchers at the Massachusetts Institute of Technology's Microsystems Technology Laboratory, is developing a microchip-sized battery that can power a variety of handheld devices for a week. It has previously raised over $90 million in venture funding from investors including Fairhaven Capital, of Cambridge, Mass., and Boston-based Rockport Capital.
Reg D filing: http://tinyurl.com/687uhwt
Bio from Altira site:
Hull McKinnon
Partner (and CFO)
Hull has spent the last fifteen years advising and growing entrepreneurial companies. The last 9 years with Altira: sourcing, investing and managing energy technology companies. Prior to that as an advisor and assurance provider with PricewaterhouseCoopers.
Current Board of Director memberships: Eco Power Solutions, Tantalus Systems, Lilliputian Systems, Renaissance Lighting, Enerpulse, Inc. and others
BA, College of William and Mary; CPA
Bio from Forbes:
Ray Stata
Chairman of the Board
Analog Devices, Inc.
Norwood , MA
Sector: TECHNOLOGY / Semiconductor - Integrated Circuits
76 Years Old
Mr. Stata, age 76, has served as our Chairman of the Board of Directors since 1973 and an executive officer of our company since its inception. Mr. Stata served as our Chief Executive Officer from 1973 to November 1996 and as our President from 1971 to November 1991. We believe Mr. Stata?s qualifications to sit on our Board of Directors include his 46 years of experience in the semiconductor industry, including as our founder, our Chairman for 38 years and formerly as our President for 20 years.
Barry J. Fidelman
Director
Isilon Systems, Inc.
Seattle , WA
Sector: TECHNOLOGY / Data Storage Devices
69 Years Old
Mr. Fidelman has been a Partner of Atlas Venture, a venture capital firm, since 1988. Prior to Atlas Venture, Mr. Fidelman held senior executive positions at Data General, Apollo Computer and Alliant Computer. Mr. Fidelman also currently serves on the boards of directors of several private companies. Mr. Fidelman received a Bachelor of Science degree in electrical engineering from Massachusetts Institute of Technology and a Master of Business Administration degree from Harvard Business School.
Bio from KPCB site:
Russell Siegelman
Partner
Companies:
Digital Chocolate
Friendster
Lilliputian
Mobilygen
RazorGator
As a Partner at Kleiner Perkins Caufield & Byers, Russell invests in consumer and energy related technologies and markets, including software, electronic commerce, Web services, semiconductors, consumer systems, media and telecommunications. He is currently on the boards of Digital Chocolate, Friendster, Lilliputian Systems, Mobilygen, Quorum Systems and RazorGator.
Russell also leads KPCB's investment in WildBlue Communications, and is also on the board of the non-profit organization Sustainable Conservation.
Russell joined KPCB after seven years at Microsoft. At Microsoft he helped launch LAN Manager, Microsoft's first network operating system, then was the marketing manager in charge of Windows for Workgroups, a small-business networking version of Windows. For the first half of 1993, Russell worked directly for Bill Gates, during which time he researched the online market and recommended an entry strategy for that market. This led to the formation the Microsoft Network (MSN), Microsoft's online service. Russell became the first employee of this division and became its General Manager and then Vice President through April of 1996. Under his direction, MSN was developed and launched and reached over one million paying members. Russell was also responsible for the formation of the Slate project, Microsoft's World Wide Web political and arts commentary. He recruited the editor, Michael Kinsley, and was the business manager in charge of Slate until he left Microsoft in July 1996.
Before Microsoft, Russell was a software engineer who wrote artificial intelligence applications for the financial services industry at Applied Expert Systems, a Cambridge, Massachusetts startup, and was also an engineering consultant. He earned his BS from the Massachusetts Institute of Technology in Physics in 1984 and an MBA from Harvard University where he was a Baker Scholar in 1989.
E-mail: russells@kpcb.com
Bio from BusinessWeek:
Kenneth B. Lazarus Ph.D.
Chief Executive Officer, Lilliputian Systems, Inc.
Dr. Kenneth B. Lazarus, Ph.D. serves as Chief Executive Officer of Lilliputian Systems, Inc. Dr. Lazarus serves as a Senior Advisor at Ekotrope, Inc. He served as Chief Executive Officer of Active Control Experts, Inc. since its inception in 1992. He was a Co-founder of Active Control Experts, Inc. He has extensive experience in applying piezoelectric materials in the design of innovative devices. He was Chief Executive Officer of ACX & GM of Cymer, Inc. and was a founder of DataXu. Prior to founding ACX, Dr. Lazarus spent six years as a research assistant at the Massachusetts Institute of Technology where he conducted analytical and experimental research of precision composite plates with active piezoelectric elements and multivariable real-time control of flexible structures and aeroelastic lifting surfaces. He serves as a Director of Ekotrope, Inc. Dr. Lazarus served as Director of Active Control Experts, Inc. Dr. Lazarus holds a PhD in Aeronautics and Astronautics from the Massachusetts Institute of Technology with a minor concentration in strategic management of technological innovations. He received a MS from MIT and a BSE in Mechanical Engineering and Material Science from Duke University.
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