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Advanced Navigation has secured $158 million in funding, with $50 million from Australia's National Reconstruction Fund, to develop a GPS alternative for autonomous vehicles. The investment is expected to double the company's workforce and create 172 new jobs across engineering, robotics, and manufacturing.

The new navigation system will leverage multiple sensors and AI for reliable operation in remote locations. The firm aims to enhance Australian manufacturing while expanding internationally, particularly in the US and Europe, where it currently generates 80% of its revenue. This funding follows a review of Australia’s R&D sector recommending support for local innovation.