Following Record Sales Growth and Launch of Disruptive New Product
CEDAR PARK, Texas, Feb. 16, 2023 (GLOBE NEWSWIRE) -- VUV Analytics, Inc. announced today that it has raised $20 million in equity financing - led by existing investors S3 Ventures and New Science Ventures - bringing its total funding to over $36 million. The announcement follows the recent launch of the company's LUMA product and a record year for revenue with its unit sales run rate doubling year-over-year.
"By leveraging the unique capabilities of vacuum ultraviolet spectroscopy, VUV Analytics continues to drive disruptive innovation within analytical instrumentation," said Brian R. Smith, Managing Director of S3 Ventures. "We are excited about their growth in hydrocarbon and low-carbon applications - as well as the launch of LUMA - which we expect to significantly broaden their market opportunity and accelerate growth."
With over 100 customers, VUV Analytics devices are used by the top 10 U.S. oil refiners, the top four global test inspection and certification labs, and eight of the top 20 global chemical companies. The company's products are rapidly being incorporated into hydrocarbon and low-carbon industry standards - with four ASTM methods fully approved and three others entering ASTM and CEN ballots.
"S3 Ventures and New Science Ventures have been great partners in building our business," said Clark Jernigan, CEO of VUV Analytics. "They are patient, long-term investors who recognize the transformative potential of our technology."
About VUV Analytics)
VUV Analytics is the leader in vacuum ultravioletor contact VUV Analytics directly at (512) 333-0860.
About S3 Ventures)
Based in Austin for 17+ years, S3 Ventures is the largest venture capital firm focused on Texas. We empower visionary founders with the patient capital and true resources required to grow extraordinary, high-impact companies in Business Technology, Digital Experiences, and Healthcare Technology. Learn more at www.s3vc.com.
About New Science Ventures)
New Science Ventures, LLC (NSV) is a leading venture capital firm focused on building companies that leverage breakthrough science to create extraordinary value. NSV invests in companies using science-based innovations to address market needs in the life sciences and information technology sectors.
Contact Information:
Peter Boler
Vice President of Marketing
peter.boler@vuvanalytics.com
(512) 593-6986
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