SYDNEY – November, 2022 – Superior Navigation (the “Firm”), a developer of AI robotics and navigation know-how, and KKR, a number one world funding agency, in the present day introduced the signing of definitive agreements beneath which KKR will lead a AUD 108 million (USD 68 million) Sequence B funding spherical within the Firm. The funding spherical consists of participation from new buyers similar to deep studying enterprise agency AI Capital and current buyers, together with Principal Sequence, the Hon. Malcolm Turnbull AC, In-Q-Tel, and Our Innovation Fund, bringing Superior Navigation’s whole quantity raised to greater than AUD 134 million (USD 85 million).
Headquartered in Australia, the Firm’s robotic and navigation options optimise efficiency and effectivity by leveraging AI neural networks and deep studying algorithms. Superior Navigation sensor merchandise are bought into business and defence industries spanning sea, land, air and area functions. The Firm’s AI method permits its options to have larger accuracy and reliability whereas sustaining a small type issue. At this time, Superior Navigation’s options are adopted by a few of the world’s largest know-how corporations and defence prime contractors.
Superior Navigation seems to be to make use of the funding to speed up R&D applications centered on transformative robotic, navigation, photonic, and quantum sensing options, and improve its world gross sales and advertising and marketing capabilities to achieve new clients. Superior Navigation may even assess inorganic development alternatives to include new applied sciences and merchandise into its suite which counterpoint the Firm’s current merchandise and areas of experience.
Xavier Orr, CEO and Co-Founding father of Superior Navigation, mentioned, “We stay up for this subsequent part of development as we proceed to be a driving pressure within the autonomy revolution. KKR has vital expertise investing in rising applied sciences, we’re thrilled to have them lead our Sequence B funding spherical and work alongside our group to advance our product and know-how innovation and improvement. Our applied sciences will proceed to securely and reliably information autonomous autos throughout hazardous environments. Along with our engineering consultants, companions, and in collaboration with world analysis institutes, we are going to work to construct a extra resilient, safe and sustainable future.”
Mukul Chawla, Accomplice and Head of Development Fairness, Asia Pacific for KKR, mentioned, “Superior Navigation has established itself as a number one innovator within the robotics sector by growing differentiated AI-enabled software program with a variety of functions. As demand for autonomous know-how continues to develop, we’re excited to collaborate with Xavier, Chris and the Superior Navigation group. We see vital alternative for the Firm to faucet into KKR’s world community, operational experience, and expertise in know-how investing to speed up the Firm’s efforts to broaden globally and construct out its platform. Superior Navigation marks our first know-how development funding in Australia, an essential marketplace for KKR general, and for our development fairness franchise and its devoted group primarily based in Sydney.”
Louis Casey, KKR’s development know-how lead in Australia, New Zealand, and Southeast Asia, mentioned, “Advances in autonomous navigation know-how that leverages AI to cut back sensor price whereas enhancing efficiency can quickly enhance enterprise and shopper functions globally. We’re more than happy to work alongside the Superior Navigation group to assist the Firm’s development.”
As well as, Louis Casey and Vance Serchuk, Government Director of the KKR World Institute, will be a part of Superior Navigation’s board of administrators. Common David Petraeus (U.S. Military, Ret.), Accomplice, KKR and Chairman of the KKR World Institute, will chair a brand new advisory committee that targets to assist the Firm’s world enlargement efforts.
Common Petraeus mentioned, “I stay up for chairing Superior Navigation’s Worldwide Advisory Board to assist introduce the Firm’s essential know-how to new markets and alternatives, together with within the aerospace, defence, and safety sectors.”
KKR makes its funding from its Asia Subsequent Technology Expertise technique, which seeks to assist the expansion of corporations within the Asia Pacific area that provide differentiated, know-how and technology-enabled options. Different investments from the technique embody Privy, a digital belief supplier in Indonesia; GrowSari, a business-to-business e-commerce platform serving small-and-medium enterprises (“SMEs”) within the Philippines; and KiotViet, a software program platform for SMEs in Vietnam; and dataX, a buyer relationship administration software program platform in Japan. Extra particulars of the transaction usually are not disclosed.
About Superior Navigation
Superior Navigation was based in Sydney, Australia in 2012 by engineers Xavier Orr and Chris Shaw to commercialise college analysis on AI-based inertial navigation. Since 2012, the corporate has skilled nice success and has progressed into a number of deep and new know-how fields. This consists of underwater acoustics, GNSS antennas and receivers, radio frequency methods, inertial sensors, robotics, and quantum-enhanced inertial navigation.
At this time, Superior Navigation is a provider to a few of the greatest corporations on this planet, together with Airbus, Boeing, Google, Apple, and Common Motors. Superior Navigation is headquartered in Sydney, Australia with a number of analysis amenities all through the nation and gross sales workplaces all over the world. Superior Navigation is an Australian producer exporting globally whereas sustaining carbon-neutral operations. For added data go to www.advancednavigation.com.
KKR is a number one world funding agency that gives different asset administration in addition to capital markets and insurance coverage options. KKR goals to generate engaging funding returns by following a affected person and disciplined funding method, using world-class individuals, and supporting development in its portfolio corporations and communities. KKR sponsors funding funds that spend money on non-public fairness, credit score and actual property and has strategic companions that handle hedge funds. KKR’s insurance coverage subsidiaries supply retirement, life and reinsurance merchandise beneath the administration of World Atlantic Monetary Group. References to KKR’s investments might embody the actions of its sponsored funds and insurance coverage subsidiaries. For added details about KKR & Co. Inc. (NYSE: KKR), please go to KKR’s web site at www.kkr.com and on Twitter @KKR_Co.