AUSTIN, Texas, Aug. 18, 2016 /PRNewswire/ -- VUV Analytics, Inc., the leader in vacuum ultraviolet (VUV) absorption spectroscopy, announced closing of a $6.5 million Series B equity financing. The round was led by new investor New Science Ventures, with participation from S3 Ventures and other previous investors. Vivek Mohindra, Partner at New Science Ventures, has joined the company's board of directors. In 2014 and 2015, the company had previously raised a total of $7 million in Series A equity and $2 million of debt.
"VUV Analytics has developed a platform technology that is currently being adopted in diverse markets, from refining and petrochemical to food and life science," said Vivek Mohindra, "We were especially impressed with the company's traction among Global 100 companies. We expect VUV technology to ultimately penetrate a broad cross section of the laboratory analytical and process control markets."
"We are very excited to have New Science Ventures as our Series B lead investor," said Clark Jernigan, CEO of VUV Analytics. "The team at NSV, with expertise in both advanced materials and life sciences, was exactly what we were looking for with Series B, and will be of great help as we expand our markets and technology reach from a strong starting point in fuels refining and chemicals production. Given our ramping revenue and capital efficient business model, we expect this capital to take the company to self-sustaining growth."
"It has been fun to see VUV Analytics develop from a promising technology to a successful company with industry leading customers," said Brian R. Smith, Managing Director at S3 Venture Partners. "We welcome New Science Ventures to the team and look forward to seeing the company reach the next level."