Luna Robotics, a Kaunas-based defense technology company, has raised €1.08 million from Coinvest Capital, Plug & Play EMEA Ventures GmbH, and several international angel investors. The company develops tactical FPV drone cameras used in military operations and plans to allocate the new funds to expand production and strengthen distribution networks in European and U.S. markets. The startup develops tactical FPV drone cameras for military operations, manufacturing its products locally with supply chains independent of China. Coinvest Capital’s share in the round amounts to about €720,000, making Luna Robotics the 50th addition to its investment portfolio.
Luna Robotics founders Elvinas Kukys and Ramūnas Čereškevičius are members of the Lithuanian Riflemen’s Union, is a voluntary civic organization that unites citizens who wish to contribute to the defense and resilience of their country.
The funds raised will be directed toward expanding the company’s sales and partnership network in the EU and U.S. markets, purchasing automation and calibration equipment, and increasing production scaling capacity.
“We are creating what we dreamed of during our service – tools that help perform missions on the front line more safely, accurately, and efficiently. This technology is not just a product; it is our contribution to the strength of soldiers, Lithuania’s security, and our allies’ advantage on the battlefield,” said Luna Robotics co-founder Elvinas Kukys.
The Luna Robotics tactical camera LunaCam provides visibility both day and night. The camera can be adapted for various military tasks using software solutions that simplify pilot operations, assist in target detection, and optimize mission performance. LunaCam is already being sold in EU and U.S. markets and has been battle-tested in Ukraine.
The LunaCam is manufactured in Lithuania, and the company’s co-founders emphasize that its electronic components and software supply chains are independent of China.
“Luna Robotics embodies what is most needed right now – defense sector products created and manufactured in Lithuania, based on practical experience and the latest technologies. Such solutions can be quickly adapted to a rapidly changing environment and deployed in real-world conditions. As a result, LunaCam is already being well received in NATO country markets. The company’s business-to-business sales model and the already strong customer interest suggest growth rates that are attractive to venture capital investors,” said Viktorija Trimbel, Managing Director at Coinvest Capital.
“I have been following the progress of the Luna Robotics team for several years, since their first appearance at the annual defense innovation hackathon organized by the Lithuanian Riflemen’s Union and Tech Park Kaunas. The company also attracted the attention of members of the Lithuanian Business Angel Network (LitBAN) during the Business Angel School program, later joined by additional investors from LatBAN (the Latvian Business Angel Network) and the 21NGLS syndicate,” noted Viktorija Trimbel.
Coinvest Capital’s share in this investment amounts to nearly €720,000.
“The Lithuanian Riflemen’s Union can be proud that the hackathons we organize together with Tech Park Kaunas are bearing fruit. Our members are achieving strong results and contributing to the defense industry by establishing high-tech companies. We thank everyone who supports our activities and invests in young teams. We do not intend to stop,” said Colonel Linas Idzelis, Commander of the Lithuanian Riflemen’s Union.
“Members of the Lithuanian Riflemen’s Union stand out among the defense innovators we meet for their excellent understanding of military needs, as they often work to solve problems they personally encounter during training. Together with its partners, Coinvest Capital has already invested nearly €13 million in defense and dual-use innovations, and Luna Robotics has become the fund’s milestone 50th portfolio company,” added Viktorija Trimbel.
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Read the orginal article: https://arcticstartup.com/luna-robotics-raises-e1-08-million/
