AI Navigation Leader Advanced Navigation Raises A$108M for Global Expansion
Sydney-based Advanced Navigation, a global leader in AI-based inertial navigation, has secured A$108 million ($68 million) in Series B funding. The company, founded in 2012, aims to fuel its next phase of growth with KKR leading the round, joined by new investors AI Capital and existing backers.
Advanced Navigation's CEO and co-founder, Xavier Orr, expressed enthusiasm about the partnership with KKR. The investment will support the company's expansion into new markets and technologies. The total amount raised by the company now exceeds A$134 million ($85 million).
The funds will primarily be used to bolster research and development in robotics, navigation, photonics, and quantum sensing. Additionally, the company plans to beef up its global sales and marketing efforts. Advanced Navigation's client roster includes heavyweights like Airbus, Boeing, Google, Apple, and General Motors, as well as global primes such as Thales, BAE Systems, Raytheon, Boeing, and Lockheed Martin.
KKR's Louis Casey and Vance Serchuk will join Advanced Navigation's board, bringing their expertise to guide the company's growth. While the search for additional investors involved in inorganic growth opportunities remains ongoing, Advanced Navigation is well-positioned to capitalize on the investment for its next phase of expansion.
