Advanced Navigation, a Sydney, Australia-based developer of AI robotics and navigation technology, has raised A$108 million ($68 million) in its Series B funding, bringing its total amount raised to more than A$134 million ($85 million).
The round was led by KKR, with participation from new investors AI Capital and existing investors, including Main Sequence, former Prime Minister Malcolm Turnbull, In-Q-Tel, and Our Innovation Fund,
The funds will be used to accelerate R&D programs focused on transformative robotics, navigation, photonics, and quantum sensing solutions, and ramp up the company’s global sales and marketing capabilities. It will also 'assess inorganic growth opportunities to incorporate new technologies and products into its suite that complement the company’s existing products and areas of expertise.
Xavier Orr, CEO, and co-founder of Advanced Navigation said, “We look forward to this next phase of growth as we continue to be a driving force in the autonomy revolution. KKR has significant experience investing in emerging technologies, we are thrilled to have them lead our Series B funding round and work alongside our team to advance our product and technology innovation and development. Our technologies will continue to safely and reliably guide autonomous vehicles across hazardous environments. Together with our engineering experts, and partners, and in collaboration with global research institutes, we will work to build a more resilient, secure and sustainable future.”
The company’s robotic and navigation solutions optimize performance and efficiency by leveraging AI neural networks and deep learning algorithms. Advanced Navigation sensor products are sold into commercial and defense industries spanning sea, land, air, and space applications. Their solutions are adopted by global primes including Thales, BAE Systems, Raytheon, Boeing, and Lockheed Martin.
In addition, Louis Casey and Vance Serchuk, Executive Director of the KKR Global Institute, will join Advanced Navigation’s board of directors.
Company: Advanced Navigation
Round: Series B
Funding Month: November 2022
Lead Investors: KKR
Additional Investors: AI Capital, Main Sequence, former Prime Minister Malcolm Turnbull, In-Q-Tel, and Our Innovation Fund
Company Website: https://www.advancednavigation.com/
Software Category: AI Robotics and Navigation Systems
About the Company: Founded in 2012 by Xavier Orr and Chris Shaw to commercialize university research on AI-based inertial navigation, Advanced Navigation develops navigation systems and robotics technologies for air, land, sea, and space applications. Since 2012, the company has experienced great success and 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 mission is to drive the autonomy revolution with AI-powered systems delivering unparalleled capabilities and performance. Today, Advanced Navigation is a supplier to some of the biggest companies in the world, including Airbus, Boeing, Google, Apple, and General Motors. Advanced Navigation is headquartered in Sydney, Australia, with multiple research facilities throughout the country and sales offices around the world. Advanced Navigation is an Australian manufacturer exporting globally while maintaining carbon-neutral operations.