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Lemnos Labs Inducts New Companies, Secures $1.85 Million in Round of Funding & Adds an Entrepreneur in Residence

Hardware Incubator Doubles Company Roster and Announces Funding to Fuel the Growing Space in Silicon Valley

SAN FRANCISCO, CA -- (Marketwire) -- 11/16/12 --


Core News Facts:

  • Lemnos Labs, a full-service hardware incubator, today announced five new companies along with funding and an entrepreneur in residence (EIR) to support its overall growth in the Silicon Valley hardware industry.
  • MIT graduates Jeremy Conrad and Helen Zelman founded the incubator in 2011 to provide early-stage startups with a built-in network and access to the tools and resources necessary for success.
  • Bia, NanoSatisfi, Revolve Robotics and Unmanned Innovation have turned to Lemnos Labs for support in developing and bringing their products to market.
    • Bia: The first iconic sports brand built around data and women, Bia is the only online and on-body fitness platform with real-time connectivity.
    • NanoSatisfi: A space data company, NanoSatisfi provides affordable and convenient access to space through nanosatellite infrastructure and user definable data collection capabilities.
    • Revolve Robotics: Creating a tablet-based robotic platform that enhances video calling with remote controlled movement, Revolve Robotics enables consumer grade telepresence.
    • Unmanned Innovation: Poised to transform the Unmanned Aerial Vehicle (UAV) industry, Unmanned Innovation leverages technologies developed for military applications and packages them as a development platform.
  • Lemnos Labs' $1.85 million in funding will allow existing and future startups within its program to successfully execute upon their roadmaps and expand resources offered within the incubator.
  • Investors include Alex Lloyd of Accelerator Ventures, Alex Vikati, Ash Patel, Matt Mullenweg's Audrey Capital, Daniel Abrams, Don Hutchison, Edwin Ong, Jack Herrick (founder/CEO of wikiHow.com), Naval Ravikant, Othman Laraki, Paul Sethi and Seraph Group.
  • The company has also enlisted Eric Klein, managing partner at Klein Venture Partners, as its EIR. With hardware and software experience at Nokia, Apple and Palm, Inc., Eric will support the Lemnos Labs core team and serve as an advisor to its supported companies.

Quotes:

Jeremy Conrad, co-founder, Lemnos Labs
"We're excited about the traction hardware is gaining in Silicon Valley and thrilled to play a part in the evolution of the space. With our new lineup of companies, a solid round of funding, as well as valuable guidance from Eric Klein, we're looking forward to accelerating the growth and shaping the direction of the hardware community."

About Lemnos Labs:
Lemnos Labs, a hardware incubator based in San Francisco, provides seed-funding, mentorship and resources to talented engineers with innovative ideas and a passion for building things. The company equips hardware startups with the space, tools and network they need to build high-value products that attract angel investors and venture capitalists to ultimately establish a sustainable business and bring the product to market. The company aims to lead this charge by kick-starting technologies that solve real-world problems. A list of our companies, mentors and more information can be found at www.lemnoslabs.com.

Contact:
Brittany Votto
Inner Circle Labs for Lemnos Labs
Email Contact
(415) 684-9406

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