Defense technology startup Luna Robotics receives over €1 million investment from Coinvest Capital and angel investors

Lithuanian defense technology startup Luna Robotics has secured a €1.08 million investment from the venture capital fund Coinvest Capital, Plug & Play EMEA Ventures GmbH, and international business angels. The company will use the funds to strengthen the international market position of its main product – a tactical FPV drone camera.

Luna Robotics founders Elvinas Kukys and Ramūnas Čereškevičius are members of the Lithuanian Riflemen’s Union, a voluntary, state-sponsored organization that unites people dedicated to the defense and strengthening of the Lithuanian state.

The raised investment 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 mass production 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 observe 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.

This year’s defense technology hackathon, “Flaming Shield: Mission AI 2025,” organized by the Lithuanian Riflemen’s Union together with Tech Park Kaunas, will take place in Kaunas on October 10–12.

About Coinvest Capital

Coinvest Capital is a sovereign venture capital fund established by the national development bank ILTE. The fund invests public funds of EU and Republic of Lithuania, alongside private investors, in promising European start-ups that create value for Lithuania. Since the beginning of its operations, the Fund, together with its partners, has invested in 50 startups and exited 6 investments. The total venture capital deployed amounts to more than €58 million, of which €25.7 million was contributed by Coinvest Capital. Under the profit-sharing model, private co-investors have contributed €13.2 million, while an additional €19.2 million has been invested under the pari-passu model.

The Fund offers a globally unique profit-sharing program, capping its annual return on investments at 4 to 8 percent. In the event of a successful exit, any return exceeding this cap is allocated to accredited private co-investors. Out of the €44.3 million in committed capital entrusted to the Fund, €12.3 million remains available for new investments following this transaction.

More information:

Luna Robotics

Elvinas Kukys

info@lunarobotics.eu

ekukys@lunarobotics.eu

+37062024285