KKR Leads $68 million Series B Funding Round for Advanced Navigation
Advanced Navigation, a developer of AI robotics and navigation technology, and KKR, a global investment 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. Advanced Navigation sensor products are sold into commercial and defence industries spanning sea, land, air and space applications. 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 defence prime contractors.
Advanced Navigation looks to 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.