KKR has led a $68 million Series B funding round in Advanced Navigation, a developer of AI robotics and navigation technology. The funding round includes participation from new investors such as deep learning venture firm AI Capital and existing investors, including Main Sequence.
KKR has led a $68 million (AUD108 million) Series B funding round in Advanced Navigation, a developer of AI robotics and navigation technology. 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.
Advanced Navigation will 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.
Louis Casey, KKR’s growth technology lead in Australia, and Vance Serchuk, Executive Director of the KKR Global Institute, will join Advanced Navigation’s board of directors. General David Petraeus (US Army, Ret), Partner, KKR and Chairman of the KKR Global Institute, will chair a new advisory committee that targets to support the Company’s global expansion efforts.
KKR is making its investment from its Asia Next Generation Technology strategy, which seeks to support the growth of companies in the Asia Pacific region that offer differentiated, technology and technology-enabled solutions.
