SYDNEY – November, 2022 – Superior Navigation (the “Firm”), a developer of AI robotics and navigation expertise, and KKR, a number one international funding agency, at present introduced the signing of definitive agreements below 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 reminiscent of deep studying enterprise agency AI Capital and present buyers, together with Essential Sequence, the Hon. Malcolm Turnbull AC, In-Q-Tel, and Our Innovation Fund, bringing Superior Navigation’s complete 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 offered into industrial and defence industries spanning sea, land, air and area purposes. The Firm’s AI method permits its options to have better 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 expertise corporations and defence prime contractors.
Superior Navigation seems to make use of the funding to speed up R&D packages targeted on transformative robotic, navigation, photonic, and quantum sensing options, and improve its international gross sales and advertising and marketing capabilities to achieve new clients. Superior Navigation can even assess inorganic progress alternatives to include new applied sciences and merchandise into its suite which counterpoint the Firm’s present merchandise and areas of experience.
Xavier Orr, CEO and Co-Founding father of Superior Navigation, stated, “We look ahead to this subsequent section of progress as we proceed to be a driving power 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 expertise innovation and growth. Our applied sciences will proceed to soundly and reliably information autonomous automobiles throughout hazardous environments. Along with our engineering consultants, companions, and in collaboration with international analysis institutes, we’ll work to construct a extra resilient, safe and sustainable future.”
Mukul Chawla, Associate and Head of Progress Fairness, Asia Pacific for KKR, stated, “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 purposes. As demand for autonomous expertise 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 international community, operational experience, and expertise in expertise investing to speed up the Firm’s efforts to increase globally and construct out its platform. Superior Navigation marks our first expertise progress funding in Australia, an necessary marketplace for KKR general, and for our progress fairness franchise and its devoted group based mostly in Sydney.”
Louis Casey, KKR’s progress expertise lead in Australia, New Zealand, and Southeast Asia, stated, “Advances in autonomous navigation expertise that leverages AI to cut back sensor price whereas bettering efficiency can quickly improve enterprise and shopper purposes globally. We’re more than happy to work alongside the Superior Navigation group to help the Firm’s progress.”
As well as, Louis Casey and Vance Serchuk, Govt Director of the KKR International Institute, will be a part of Superior Navigation’s board of administrators. Basic David Petraeus (U.S. Military, Ret.), Associate, KKR and Chairman of the KKR International Institute, will chair a brand new advisory committee that targets to help the Firm’s international enlargement efforts.
Basic Petraeus stated, “I look ahead to chairing Superior Navigation’s Worldwide Advisory Board to assist introduce the Firm’s important expertise 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 help the expansion of corporations within the Asia Pacific area that supply differentiated, expertise 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. Further 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 expertise fields. This consists of underwater acoustics, GNSS antennas and receivers, radio frequency programs, inertial sensors, robotics, and quantum-enhanced inertial navigation.
At this time, Superior Navigation is a provider to a few of the largest corporations on the planet, together with Airbus, Boeing, Google, Apple, and Basic Motors. Superior Navigation is headquartered in Sydney, Australia with a number of analysis services 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 extra data go to www.advancednavigation.com.
KKR is a number one international funding agency that gives various 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 folks, and supporting progress in its portfolio corporations and communities. KKR sponsors funding funds that put money into non-public fairness, credit score and actual property and has strategic companions that handle hedge funds. KKR’s insurance coverage subsidiaries provide retirement, life and reinsurance merchandise below the administration of International Atlantic Monetary Group. References to KKR’s investments could embody the actions of its sponsored funds and insurance coverage subsidiaries. For extra details about KKR & Co. Inc. (NYSE: KKR), please go to KKR’s web site at www.kkr.com and on Twitter @KKR_Co.