Advanced Navigation Secures AUD 108 Million In Series B Funding Led By KKR
Advanced Navigation a developer of AI robotics and navigation technology, and KKR, a leading global investment firm, today announced the signing of definitive agreements under which KKR will lead a AUD 108 million (USD 68 million) Series B funding round in the Company. The funding round 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 AUD 134 million (USD 85 million).
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.”
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.