Advanced Navigation secures $134 million in Series B funding

Sydney-based Advanced Navigation has secured $108 million (US$85 million) in Series B funding led by international investment firm KKR.

The funding round also includes participation from new investors such as deep learning venture firm AI Capital and existing investors, including Main Sequence, the Hon. Malcolm Turnbull AC, In-Q-Tel, and Our Innovation Fund, bringing Advanced Navigation’s total amount raised to more than $134 million (US$85 million.

The company will use the funding to accelerate R&D programs focused on transformative robotic, navigation, photonic, and quantum sensing solutions, and enhance its global sales and marketing capabilities to reach new customers. Advanced Navigation will also assess inorganic growth opportunities to incorporate new technologies and products into its suite which complement the Company’s existing products and areas of expertise.

“Advanced Navigation has established itself as a leading innovator in the robotics sector by developing differentiated AI-enabled software with a wide range of applications,” said Mukul Chawla, Head of Growth Equity, Asia Pacific for KKR. “Advanced Navigation marks our first technology growth investment in Australia, an important market for KKR overall, and for our growth equity franchise and its dedicated team based in Sydney.”

Headquartered in Australia, 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.

“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,” said co-founder Xavier Orr, the CEO of Advanced Navigation. “Our technologies will continue to safely and reliably guide autonomous vehicles across hazardous environments.”

The Company’s AI approach allows its solutions to have greater accuracy and reliability while maintaining a small form factor. Today, Advanced Navigation’s solutions are adopted by some of the world’s largest technology companies and defense prime contractors.

In addition, two senior KKR executives will join Advanced Navigation’s board of directors, while retired General David Petraeus, who is Chairman of the KKR Global Institute, will chair a new advisory committee that targets to support the Company’s global expansion efforts.