Liquid Instruments Secures $20.4M for Australian Manufacturing Expansion

Liquid Instruments, a Canberra-based software-defined test tools maker, announced on April 29 that it received an A$28.45 million (US$20.4 million) investment from the National Reconstruction Fund as part of a larger Series C funding round. The A$70 million (US$50.2 million) Series C round was co-led by Keysight Technologies, a US electronic test and measurement company, and Australia's National Reconstruction Fund Corporation (NRFC). The company plans to relocate manufacturing from Southeast Asia and the US to Melbourne and will add 20 engineering jobs to its existing 55-person Australian workforce.

Company Background and Technology Focus

Founded in 2014 from Australian National University research, Liquid Instruments builds devices used in quantum computing, aerospace, defense, and AI hardware sectors. The company's Moku system combines multiple instruments on a single reconfigurable platform, including tools such as an oscilloscope and lock-in amplifier.

Investment and Commercial Partnership

The Series C round includes a commercial arrangement between Keysight and Liquid Instruments to accelerate work on AI-driven instrumentation. The NRFC, described as Australia's sovereign investor in manufacturing capability, backs Australian companies expanding globally in critical technology sectors.

Software-Defined Testing and AI Integration

Keysight tied the investment to a broader shift toward software-first, AI-enabled architectures in test and measurement. This approach enables teams to build custom measurement tools on reconfigurable platforms. According to Liquid Instruments, jobs that previously took months can now be completed in minutes. Product engineering teams in aerospace, defense, and semiconductors are adopting these tools for more flexible product testing methods.