Lithuanian Luna Robotics raises €1.08M

Lithuanian defense tech startup Luna Robotics has raised €1.08M from NGL Ventures, Coinvest Capital, Plug & Play, and several international business angels.

Luna Robotics is a startup specializing in the development and production of defense technologies. The company's products include night vision devices for FPV kamikaze drones. The company was founded in Lithuania in 2024. Luna Robotics founders are Elvinas Kukys and Ramūnas Čereškevičius.

The company will use the funds raised to expand its sales network in the EU and US markets, purchase automation and calibration equipment, and increase production capacity.

NGL Ventures was founded in April 2024 in Lithuania by former LitBAN Managing Director Justinas Pasys and Ieva Dargyte-Pasiene as a family business. There are 92 members in the network. NGL has placed eight advisory board members in four startups.

Coinvest Capital, a venture capital fund established in 2018 by the national development bank ILTE, invests EU and Republic of Lithuania public funds, in promising Lithuanian startups and into European startups that benefit Lithuania. The managing director of Coinvest Capital is Viktorija Trimbel.

Plug and Play Tech Center is an American venture capital firm founded in 2006. The fund's goal is to promote technological development by connecting startups, corporations and investors around the world.