Luna Technologies Raises $3.5M

BLACKSBURG, Va., April 22 -- Luna Technologies, a developer of fiber optic component test equipment, announced today the first closing of its Series B financing. The round was led by Columbia Capital of Alexandria, VA., which also led the Series A investment. Additional Series A investors participating in this round include ENVEST Ventures I, Soundview, Novak Biddle Venture Partners, Southwest One (managed by Gryphon Capital Partners) and Virginia Tech.

"Few companies, particularly startups, have succeeded in today's harsh optical test market," says Ed Valigursky, Luna Technologies' vice president of sales. "We are pleased by this vote of confidence from our financial partners which will allow us to continue our momentum."

He said the company will use the funds to continue to enhance and expand Luna's product line.

Luna Technologies, a spinoff of Luna Innovations Inc., manufactures optical test instruments incorporating photonics technology based on interferometric measurement research done at NASA by Luna Technologies' CTO, Mark Froggatt.

For more information, visit: www.lunatechnologies.com