Advanced Navigation closes mammoth $108m Series B backed by KKR
Moon-bound artificial intelligence robotics and navigation company Advanced Navigation has today announced the signing of definitive agreements to secure $108 million in a Series B funding round led by US global investment firm KKR.
The funds will be used to bolster the Sydney-based company’s R&D ambitions, building on work already done in the navigation and AI space for clients including technology giants Google, Apple, Airbus, Boeing and General Motors.
The raise, one of the largest private investments in Australia this year and KKR’s first in the local technology space, was also backed by returning investors Main Sequence, former Australian Prime Minister Malcolm Turnbull, In-Q-Tel and Our Innovation Fund.
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