Advanced Navigation, a Sydney, Australia-based developer of AI robotics and navigation technology solutions, raised US$68M in Series B funding.
The round, which brought total amount raised to more than US$85m, was led by KKR with participation from AI Capital and Main Sequence, the Hon. Malcolm Turnbull AC, In-Q-Tel, and Our Innovation Fund. In addition, Louis Casey and Vance Serchuk, Executive Director of the KKR Global Institute, will join Advanced Navigation’s board of directors. General David Petraeus (U.S. Army, Ret.), Partner, KKR and Chairman of the KKR Global Institute, will chair a new advisory committee that targets to support the Company’s global expansion efforts.
The company intends to use the funds to to accelerate R&D programs focused on robotic, navigation, photonic, and quantum sensing solutions, enhance its global sales and marketing capabilities to reach new customers, assess inorganic growth opportunities to incorporate new technologies and products into its suite, which complement its existing products and areas of expertise.
Founded in 2012 by engineers Xavier Orr and Chris Shaw to commercialize university research on AI-based inertial navigation, Advanced Navigation provides robotic and navigation solutions to optimize performance and efficiency by leveraging AI neural networks and deep learning algorithms. Since 2012, the company has progressed into several deep and new technology fields. This includes underwater acoustics, GNSS antennas and receivers, radio frequency systems, inertial sensors, robotics, and quantum-enhanced inertial navigation.
Its sensor products are sold into commercial and defense industries spanning sea, land, air and space applications and adopted by some of the world’s largest technology companies and defense prime contractors.
FinSMEs
17/11/2022