# Luna Innovations

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/luna-innovations

- Industry: Telecoms
- Headquarters: Roanoke, US
- Website: www.lunainc.com
- Total disclosed funding: $3.5M
- Latest round: Series B (Apr 22, 2003)
- Investors on record: 6

## About

Luna Innovations Inc. specializes in advanced fiber optic sensing and measurement systems, offering products that cater to the needs of various industries for improved functionality and reliability.Founded in 1990, Luna Innovations Inc. is headquartered in Roanoke, US, and focuses on providing advanced technology solutions in fiber optics. Co-founders Kyler Buck and Lucas Arredondo have navigated the company through multiple stages, including recent funding rounds. The company has secured funding through VENTURE DEBT amounting to USD 35.00 mn led by PNC Financial Services Group, contributing to a total of USD 7.12 mn raised across five deals. Lucas Arredondo currently serves as the CEO.Luna Innovations specializes in advanced fiber optic sensing and measurement systems, offering a diverse array of products designed to meet the growing demands for functionality, reliability, and efficiency across various industries. Key offerings include photonic integrated circuits (PICs), optical interrogators, long-gage strain sensors, and temperature sensors. These products are utilized for critical applications such as structural health monitoring, aerospace overheat detection, and automotive lightweighting, addressing real-time monitoring needs in sectors like energy, civil engineering, and telecommunications. The company serves a global client base, with a focus on defense, automotive manufacturing, and energy production industries, predominantly in North America, Europe, and Asia.In 2022, Luna Innovations reported a revenue of USD 109.50 mn and an EBITDA of USD 3.57 mn. The company generates revenue primarily through direct sales and partnerships, focusing on B2B transactions with industrial clients, government agencies, and research institutions. Their offerings include flagship products like the ODiSI interrogator and the OBR 4600 series, which are integrated into comprehensive measurement systems, customized through contractual agreements with clients.Luna Innovations plans to leverage its recent funding to support product development and expansion efforts. The company aims to introduce new products designed to enhance its measurement solutions, although specific product release dates have not been disclosed. They are also targeting expansion into new geographic markets, focusing on increased penetration in Europe and Asia by 2025. This strategic move is supported by the recent VENTURE DEBT funding, which will facilitate the necessary infrastructural and operational enhancements.

## Funding rounds

- Series B, Apr 22, 2003, $3.5M — Columbia Capital, SoundView Ventures, Novak Biddle Venture Partners, Envest Private Equity, Gryphon Capital Partners, Virginia Polytechnic Institute and State University

## Investors

- Columbia Capital (https://capitalatlas.ai/funds/columbia-capital) — Series B
- SoundView Ventures (https://capitalatlas.ai/funds/soundview-ventures) — Series B
- Novak Biddle Venture Partners (https://capitalatlas.ai/funds/novak-biddle-venture-partners) — Series B
- Envest Private Equity (https://capitalatlas.ai/funds/envest-private-equity) — Series B
- Gryphon Capital Partners (https://capitalatlas.ai/funds/gryphon-capital-partners) — Series B
- Virginia Polytechnic Institute and State University — Series B