Liquid Instruments has secured $28.5 million in Series B funding led by Acorn Capital. 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.
The funding enables Liquid Instruments to accelerate its growth plans, expand its product line and introduce novel services that connect lab measurements directly to the cloud, and brings Liquid Instruments’ total funding to more than $50 million.
The new funding follows record growth for Liquid Instruments, driven by strong demand for the Company’s new products Moku:Pro and Moku:Go. Customers in research and education, government labs and industrial segments – including aerospace and defense, semiconductor, LiDAR and quantum computing – drove a 4x year-over-year sales increase.
“Liquid Instruments is creating a versatile test and measurement platform that is customizable and efficient,” said Chris Moran, vice president and general manager of Lockheed Martin Ventures. “This technology has the potential to deliver mission critical functionality that can provide value to our customer. We are excited by Liquid’s continued growth and look forward to strengthening our collaboration.”
“This injection of capital will supercharge our ability to revolutionize the test and measurement industry,” said Daniel Shaddock, CEO, and co-founder of Liquid Instruments. “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.”
Liquid Instruments’ Moku product line offers the world’s most powerful and flexible software-defined instrumentation platform, harnessing the processing power and reconfigurability of Field Programmable Gate Arrays (FPGAs) to combine multiple instruments into one compact and accessible device. These product offerings include the Moku:Go, a complete lab solution for engineers and students to actively test designs and projects, and the Moku:Pro, an integrated platform for the most demanding research and engineering applications.
“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,” added Shaddock. “Moku’s 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.”