Advanced Navigation Secures $158 Million for GPS Alternative Development in Australia
Advanced Navigation, a Sydney-based firm, has secured $158 million in funding, including $50 million from Australia’s National Reconstruction Fund. The investment aims to develop an alternative to GPS for autonomous vehicles and other applications, expected to create 172 new jobs and double the workforce. The technology will utilize sensors and AI to operate in areas where GPS is unreliable. The company plans to expand into international markets, particularly in the US and Europe, generating 80% of its revenue from there.
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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.
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