Lilliputian Systems’ 13-year run is coming to an end.
The Wilmington, Mass. company, which created a $300 butane-powered system called Nectar to charge electronic gadgets, has been selling equipment and intellectual property in steps to shutter this year, as BetaBoston’s Scott Kirsner first reported. The company will move out of its office next month.
Lilliputian raised around $150 million in capital from Kleiner Perkins, Atlas Venture, Fairhaven Capital Partners, Stata Venture Partners, RockPort Capital, and Intel Capital. The firm attempted to raise more funding in March of this year, but that didn’t work out, and now the company is preparing for the worst.
Lilluputian got started in 2002 out of MIT’s Microsystems Technology Lab. Its tech, Nectar, used butane fuel cartridges that produced two weeks to a month’s-worth of energy to juice up batteries of USB 2.0 compatible devices like smartphones and digital cameras. The company reportedly got Brookstone on board to distribute the product, but Nectar never made it to the shelves.
The company’s crew is staying silent on the prices and names of those bidding on its parts. According to BetaBoston, however, several fairly well-known companies have bought various pieces of Lilliputian’s intellectual property.
Image via Lilliputian Systems
