KKR Leads $68 million Series B Funding Round for Advanced Navigation
firm, announced the signing of definitive agreements under which KKR will lead a $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 $85 million.Headquartered in Australia, the Company's robotic and navigation solutions optimize performance and efficiency by leveraging AI neural networks and deep learning algorithms
DCNS Australia Opens Adelaide Future Submarine Facility
DCNS Australia celebrated the founding of its Australian headquarters in Keswick, Adelaide, which will be dedicated to delivering the Future Submarine Program. The ceremony was attended by Malcolm Turnbull, Prime Minister of Australia, Minister for Defense Industry, Christopher Pyne MP, Jean-Yves Le Drian, French Minister for Defense and a number of parliamentarians and defense sector figures. “This is an important initial milestone in DCNS’ decades long commitment to the design and construction of 12 regionally superior submarines in Adelaide,” said Herve Guillou
Coral 'Bright Spots' Offer Clues to Protecting Threatened Reefs
off Australia, the world's biggest, was performing in line with expectations given its remoteness and high level of protection, lead author Joshua Cinner, a professor at James Cook University in Australia, told Reuters of the study published on Wednesday in Nature. Australian Prime Minister Malcolm Turnbull, facing a tight re-election battle, on Monday pledged an A$1 billion ($740 million) fund for the reef, which scientists say is suffering widespread coral bleaching due to climate change. The report found that in many coral reef bright spots, local people depended heavily on reefs for
France sinks Japanese, German Sub Bids
to be built in South Australia; decision has political implications at home, abroad. France has beaten Japan and Germany to win a A$50 billion ($40 billion) deal to build a fleet of 12 submarines for Australia, one of the world's most lucrative defence contracts, Australian Prime Minister Malcolm Turnbull announced on Tuesday. The victory for state-owned naval contractor DCNS Group underscored France's strengths in developing a compelling military-industrial bid, and is a blow for Japanese Prime Minister Shinzo Abe's push to develop defence export capabilities as part of a more muscular security
Submarine Bidders Step up Lobbying for Australia Tender
in military spending of nearly A$30 billion over the next 10 years to protect strategic and trade interests in the Asia-Pacific. Industry watchers had anticipated a decision for one of the world's most lucrative defence contracts to come later in the year, but Australian Prime Minister Malcolm Turnbull's recent gamble on a July 2 election has sped up the process. The contract is politically sensitive as it will likely have an impact on thousands of jobs in the shipbuilding industry in South Australia state. Retaining votes in key electorates in that state will be critical for the
February 2024
