The company would divert this to product innovation, talent acquisition and expansion in commercial, and educational markets.
In Series B funding led by Acorn Capital, Liquid Instruments, secured $28.5 million. The round also includes participation from new investors, including Lockheed Martin Ventures and Powerhouse Ventures, in addition to existing investors, Spirit Super/ANU Connect Ventures, MA Growth Ventures, Significant Capital Ventures, and Boman Enterprises. This amount is said to enable the expansion of the company’s product line and introduce novel services that connect lab measurements directly to the cloud. In total this brings the total funding to more than $50 million.
Chris Moran, vice president and general manager of Lockheed Martin Ventures said, “Liquid Instruments is creating a versatile test and measurement platform that is customizable and efficient. This technology has the potential to deliver mission-critical functionality that can provide value to our customers. We are excited by Liquid’s continued growth and look forward to strengthening our collaboration.”
Daniel Shaddock, CEO, and co-founder of Liquid Instruments said, “This injection of capital will supercharge our ability to revolutionize the test and measurement industry. Our innovative software-first approach provides clear advantages over traditional hardware-based solutions, and this funding strongly positions us to lead this critical industry transformation. We are focused on enhancing cloud integration features for our products and scaling production of Moku:Go to help millions of undergraduate engineering students around the world unlock their full potential. Mokus will continue to receive new features via frequent over-the-air updates enabling new solutions in key commercial industries.”
“Liquid Instruments’ Australian-developed software-defined approach is the manifestation of an ambitious plan targeting a vital market that has suffered from a deficit of innovation and imagination.” said Robert Routley, CEO, Acorn Capital. “We see tremendous potential for their platform to continue to grow and evolve, benefitting more industries over time. Liquid Instruments is well positioned to execute on its expansion strategy and disrupt the test and measurement sector and lead the industry through the much-needed transition from hardware to software.”
Liquid Instruments’ Moku combines multiple instruments into one compact and accessible device, making it a complete lab solution for engineers and students to actively test designs and projects. Moku:Pro is an integrated platform for the most demanding research and engineering applications.
