Australian advanced manufacturer Liquid Instruments has successfully closed a A$70 million Series C funding round to accelerate its global expansion. The investment was co-led by the National Reconstruction Fund (NRF) and NYSE-listed Keysight Technologies, with participation from several other prominent venture capital firms. This significant capital injection will be used to scale its Melbourne-based manufacturing, enhance product development, and increase its international sales presence.
Strategic Investment for Sovereign Capability
The National Reconstruction Fund Corporation (NRFC) has made a cornerstone investment of $28.45 million, underscoring its commitment to building sovereign capabilities. NRF Chief Investment Officer Mary Manning stated the funding will anchor Liquid Instruments in Australia while attracting significant private capital. This strategic move is also expected to generate highly skilled jobs and bolster the local technology ecosystem.
Chief Executive Officer Daniel Shaddock emphasized that the NRF's support enables the company to consolidate its manufacturing locally while pursuing global growth. He highlighted that advanced manufacturing is a critical national asset that requires long-term development and protection. This investment secures a vital part of Australia's industrial future against the risk of being lost overnight.
Pioneering Technology and Global Reach
At the heart of the company's success is its flagship product range, Moku, a revolutionary testing and measurement device. This single piece of hardware can be configured via software to perform the functions of up to 16 different analogue laboratory instruments. Its software-defined nature offers unparalleled flexibility and efficiency for engineers and scientists in various advanced industries.
The global appeal of Liquid Instruments' technology is evident in its distinguished list of customers, which includes industry giants like Nvidia, Lockheed Martin, and Intel. The company derives over 90% of its revenue from international markets, demonstrating strong demand for its innovative solutions. This widespread adoption validates the Moku platform's value proposition in the competitive global technology sector.
The Vision for Future Growth
With the new funding, Liquid Instruments plans to significantly expand its Melbourne manufacturing facilities and grow its product engineering team. The company anticipates creating an additional 20 highly skilled roles, adding to its current workforce of 55 employees. This expansion will enhance its capacity to innovate and meet the increasing global demand for its products.
Founded in 2014 by CEO Daniel Shaddock and COO Danielle Wuchenich, the company originated as a spinout from the Australian National University. Shaddock's background includes involvement in the research that led to the 2017 Nobel Prize in Physics for observing gravitational waves. This deep scientific heritage forms the bedrock of the company's cutting-edge technological advancements.
Co-lead investor Keysight Technologies noted the industry's shift toward software-first and AI-enabled architectures, a trend Liquid Instruments is capitalizing on. A company vice president explained that Liquid Instruments' approach uses software to directly shape hardware behavior. This creates more adaptable and powerful instrumentation that aligns perfectly with future industry needs.
This $70 million funding round represents a pivotal moment for Liquid Instruments, validating its innovative technology and strategic vision. The backing from both public and private sector leaders like the NRF and Keysight Technologies provides a powerful platform for growth. The investment not only secures the company's future in Australia but also positions it to lead the global evolution of testing and measurement equipment.