LILYPAD LABS RECEIVES INVESTMENT FROM MICHIGAN RISE

East Lansing, MI – Lilypad Labs, a Holland-based company dedicated to creating a carbon-free boating experience, has secured an investment from Michigan Rise Pre-Seed Fund III. 

Lilypad Labs was created when its founders recognized a lack of carbon-free, sustainable boating options in the market. The company is redefining peaceful water recreation with "Lilypad," a shareable solar boat. Using clean energy and renter-assist mobility technology, Lilypad brings people together with an accessible alternative boating experience that requires little to no boating expertise.  

“The Lilypad team set out to address the carbon footprint in the marine industry with a cleaner technology,” said Tommy Skinner, Senior Venture Associate at Michigan Rise. “Over the last two years, they’ve diligently developed their product, and we believe they’re well-positioned for successful commercialization.” 

Financing from this round will be used to build out inventory, hire additional talent, and establish product proof points needed to secure the next round of seed financing. 

 
About Michigan Rise   

Michigan Rise is a wholly owned venture capital subsidiary of the Michigan State University (MSU) Research Foundation, operated in partnership with the Michigan Economic Development Corporation (MEDC). Michigan Rise provides early-stage funding to innovative companies that have the potential to transform industries and create jobs in Michigan.   

About Lilypad Labs, Inc.  

Lilypad Labs has redefined peaceful water recreation with Lilypad, a shareable solar boat. Utilizing clean energy and renter assist mobility technology, the Lilypad offers an approachable alternative boating experience designed to bring people together on the water while requiring little to no boating expertise. Lilypad makes access to water simple, sustainable and pollution free. Committed to transparency and accountability, Lilypad Labs leverages business to positively serve employees, communities, and the environment. For more information, visit: www.lilypad-labs.com.