What is Liquid Instruments?
Liquid Instruments is a pioneer in the test and measurement sector, offering a sophisticated ecosystem of software-reconfigurable hardware. Their flagship Moku platform—including the Moku:Pro, Moku:Lab, and Moku:Go—enables scientists, engineers, and students to perform complex experimental analyses with unprecedented flexibility. By replacing fixed-function hardware with programmable, software-defined instruments, the company addresses critical needs in high-growth sectors such as aerospace, optics, AI, and advanced research. This approach significantly reduces the barrier to entry for complex R&D, allowing professionals to iterate faster and optimize performance in demanding technical environments.
How much funding has Liquid Instruments raised?
Liquid Instruments has raised a total of $112.5M across 6 funding rounds:
Series A
$8.2M
Debt
$150K
Other Financing Round
$13.7M
Series B
$28.5M
Other Financing Round
$12M
Series C
$50M
Series A (2019): $8.2M with participation from Anzu Partners
Debt (2020): $150K led by PPP
Other Financing Round (2021): $13.7M supported by Moelis Australia, F1 Solutions, ANU Connect Ventures, and Anzu Partners
Series B (2022): $28.5M featuring Acorn Capital Investment Fund, Lockheed Martin Ventures, and Powerhouse Ventures
Other Financing Round (2024): $12M backed by Breakthrough Victoria, Lockheed Martin Ventures, Powerhouse Ventures, and Acorn Capital Investment Fund
Series C (2026): $50M with participation from Keysight and NRFC
Key Investors in Liquid Instruments
Keysight
A leading American electronic measurement and test solutions provider that designs and manufactures advanced test, measurement, and electronic design automation products for global industries.
NRFC
The National Reconstruction Fund Corporation is an Australian Government initiative providing debt and equity to transform industry and support high-value projects in priority sectors.
Anzu Partners
An investment firm focused on breakthrough technologies in clean tech, industrial, and life sciences sectors, providing strategic support to accelerate market growth.
What's next for Liquid Instruments?
With the successful closure of its latest financing round, Liquid Instruments is well-positioned to deepen its penetration into the global industrial and research markets. The strategic alignment with major industry players suggests a focus on expanding the Moku ecosystem's capabilities to meet the rigorous demands of next-generation electronic design and validation. As the company transitions into this mature growth phase, the focus will likely shift toward scaling its operational footprint, enhancing its software-defined feature set, and strengthening its supply chain to support large-scale enterprise deployments. The infusion of capital serves as a catalyst for further innovation, ensuring the company remains at the forefront of the test and measurement industry.
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