Led · Series B · Dec 2023

Luna Innovations develops advanced fiber optic-based technologies and fiber optic sensing solutions for structural health monitoring and other mission-critical applications. Its offerings target aging infrastructure and security-sensitive assets—such as bridges, tunnels, and pipelines—enabling continuous monitoring and recurring revenue opportunities. The company says several large global customers are expanding their use of Luna’s solutions, driving increased demand. Luna plans to deploy new capital to execute a robust product roadmap, pursue new applications, and build upon its already large intellectual property library. Financially, Luna received a $50 million strategic investment that funded the acquisition of Silixa (approximately $25 million of proceeds used for that transaction and related costs) and was used to repay a $17 million term loan, strengthening the balance sheet. Management expects the increased financial flexibility to accelerate growth and increase profitability.