Advanced Navigation completes Series B funding round

Advanced Navigation, a developer of AI robotics and navigation technology, has raised $68 million in a Series B funding round. The Series B round was led by global investment firm KKR.

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 supplies solutions to some of the world’s largest tech companies, such as Fugro, NASA, Tesla, Google and Boeing. The funding will be used to develop AI technologies and expand autonomy beyond its current scope, including solutions to help guide driverless vehicles, flying taxis, space crafts, drone deliveries, autonomous farming and deep sea robotics. The company 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, 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 very pleased to work alongside the Advanced Navigation team to support the company’s growth.”

In addition, Louis Casey and Vance Serchuk, Executive Director of the KKR Global Institute, will join Advanced Navigation’s board of directors. General David Petraeus (U.S. 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.