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KKR Leads USD 68 Million Series B Funding Round in AI Leader Advanced Navigation

Credit: Advanced Navigation

Ibadan, 21 November 2022. – Advanced Navigation, a developer of AI robotics and navigation technology, and KKR, a leading global investment firm, have announced the signing of definitive agreements under which KKR will lead a USD 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 USD 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 enter into commercial and defense industries spanning sea, land, air, and space applications. The Company’s AI approach also allows its solutions to have greater accuracy and reliability while maintaining a small form factor.
Advanced Navigation looks to use the funding to accelerate R&D programs focused on transformative robotics, navigation, photonics, and quantum sensing solutions. It will subsequently leverage this to 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, complementing the Company’s existing products and areas of expertise.

Xavier Orr, CEO and Co-Founder of Advanced Navigation said, “We look forward to this next phase of growth as we continue to be a driving force in the autonomy revolution. KKR has significant experience investing in emerging technologies. We are glad to have them lead our Series B funding round and work alongside our team to advance our product and technology innovation and development.”

Louis Casey, KKR’s growth technology lead in Australia, New Zealand, and Southeast Asia, said, “Advances in autonomous navigation technology that leverages AI to reduce sensor cost while improving performance can rapidly increase enterprise and consumer applications globally. We are pleased to work alongside the Advanced Navigation team to support the Company’s growth.”

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