Luna (NASDAQ: LUNA), a Roanoke, VA-based company which specializes in advanced fiber optic-based technology, received a $50M investment from White Hat Capital Partners.
Proceeds from this strategic investment were partially used to fund the acquisition of Silixa.
Led by CEO Glynn Williams, Silixa is a UK-based provider of distributed fiber optic sensing solutions. The acquisition further propels Luna’s position in the fiber optic sensing market, adding capabilities in distributed acoustic sensing (DAS), distributed temperature sensing (DTS) and distributed strain sensing (DSS) that offer enhanced performance for applications in energy, natural environments, mining and defense.
Luna also expects to apply the proceeds of this investment across a range of initiatives already in process to accelerate growth and increase profitability, including:
- Capitalizing on Inflection Point for Adoption of Fiber Optic Sensing Solutions
- Increasing Manufacturing Capacity to Meet Demand Arising from Strategic Partnerships
- Enhancing Investments in Innovation.
Luna is a leader in optical technology, providing capabilities in fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries. Its business model is designed to accelerate the process of bringing new and innovative technologies to market.
FinSMEs
22/12/2023