Aussie tech behind AI chips and spaceships to come home
An Australian company that helps produce rockets, quantum computers and artificial intelligence technology around the world is bringing its production home after securing a multimillion-dollar investment.
Liquid Instruments announced its plan Wednesday after winning $28.45 million in shares from the National Reconstruction Fund.
The investment is part of a $70 million Series C funding round and demand for AI computing technology is expected to grow globally, with spending expected to exceed US$2.52 trillion by 2026.
Founded in 2014 as a result of research conducted at the Australian National University, the Canberra company produces special measurement devices that replace laboratory devices such as oscilloscopes and signal generators.
Liquid Instruments CEO Daniel Shaddock said the company counts technology firms such as Apple, Nvidia, Blue Origin and BYD as customers and helps create technology in quantum computing, aerospace and defense.
“It’s like the invisible layer underneath all modern technologies, whether you’re building a phone, an MRI machine, a fighter jet or a quantum computer,” he told AAP.
“All of these technologies have racks and racks and racks of test and measurement equipment used to improve and make sure they are working properly.”
The firm uses software, including artificial intelligence, to create customized measuring devices for customers based on gravitational wave research recognized by the 2017 Nobel Prize.
While 90 per cent of Liquid Instruments’ revenue comes from overseas, Mr Shaddock said the company had decided to pull its manufacturing from Southeast Asia and the US to establish a base in Melbourne.
He said the $28.45 million investment would support the move and strengthen production facilities, as well as adding 20 engineering roles to the local workforce of 55.
“Australia still has a very vibrant and talented manufacturing sector, and if companies like Liquid Instruments and others don’t support that, it won’t be true in ten years,” he said.
“This ability takes literally decades to develop and can be lost in a matter of months.”
National Reconstruction Fund chief information officer Mary Manning said ensuring products were produced locally was vital to the success of Australia’s tech sector.
He said access to specialized measurement tools could also help other Australian companies develop products in the quantum and AI computing sectors, which have been identified as national priority areas.
“Liquid Instruments is exactly what we were set up to do in terms of keeping manufacturing in Australia and in this case bringing manufacturing back to Australia and creating centers of excellence for onshore manufacturing,” Dr Manning said.
According to data firm Gartner, worldwide spending on AI technology is expected to exceed $2.52 trillion in 2026; This represents a 44 percent annual increase.
