Liquid Instruments records 4X YOY sales growth in H1 2022
Test and measurement innovator counts Apple, Google, NASA and Intel as customers
- Single electronic testing instrument for multiple applications using proprietary instrument on programmable chip technology, saving customers thousands of dollars
- September sales include Apple, Google, NASA-JPL, MIT, US National Institute of Standards, US Naval Postgraduate School, Technion-Israel Institute of Technology
- 4X YOY sales growth in H1 2022, on track to grow 3-4X over next 12 months; current gross margin 50%+ forecast to grow
- 1,000+ customers in over 30 countries including enterprise clients Apple, NVIDIA, Intel, Lockheed Martin, Xilinx, research clients NASA, Harvard, Yale, UCLA, CalTech
- Up to $35,461,049 round, led by Acorn Capital of which $28.5M already closed; co-investors include Lockheed Martin Ventures, ANU Connect Ventures, and Moelis Australia's Growth Capital Fund
BOOK A CALL
with your Investor Relations representative
Dear Josb,
The demand for test and measurement equipment in the electronics industry is growing but this $24B market is based on decades-old technology which relies on multiple expensive devices for distinct functions.
OurCrowd is investing in Liquid Instruments, a rapidly growing Australia and US-based company that is revolutionizing test and measurement with a single configurable, programmable device that can replace a dozen separate pieces of test equipment. The details in this email are based on information received from, and verified solely by, the company.
Since OurCrowd launched this opportunity in July, the company reports the following significant developments:
4X YOY sales growth: Liquid Instruments enjoyed 4X YOY sales growth in H1 2022 and is on track to grow 3-4X over the next 12 months. The current gross margin of 50%+ is forecast to grow.
Sales to marquee customers: Customers in September include Moku:Pro sales to Apple, Google, NASA-JPL and the US National Institute of Standards. Moku:Go sales to MIT, Technion-Israel Institute of Technology and the US Naval Postgraduate School.
World markets unlocked: The US and Malaysia, where Liquid Instruments will start manufacturing in Q1 2023, informed the company that Moku:Pro does not require an export license to ship to all major markets. This has unlocked sales to 40% of potential markets including Singapore, China and Israel.
The Problem
Fully equipping an electronics lab is expensive. Oscilloscopes, spectrum analyzers, waveform generators, lock-in amplifiers and other specialist measuring equipment each cost over $10K. The basic approach to test and measurement is still rooted in technology developed decades ago, with specialized boxes for each function.
The Solution
Liquid Instruments is pioneering a completely new approach to test and measurement for the electronics industry. The company's Moku line of products is based on proprietary instrument on a programmable chip technology using field programmable gate arrays (FPGAs), enabling the creation of different hardware configurations using software.
The company's flagship product, Moku:Pro, provides a suite of ten professional-grade instruments in a single device, including a Lock-In Amplifier, Waveform Generator, Spectrum Analyzer and Oscilloscope.
Moku:Pro provides all these different capabilities with specs and precision equal to or better than comparable discrete pieces of test equipment, at a much lower cost per device, with much greater flexibility. Customers can save tens of thousands of dollars.
With multi-instrument mode, customers can run multiple pieces of test equipment at the same time from a single device. Advanced users also have the ability to program the FPGA array to implement custom digital signal processing.
The Customers
Liquid Instruments has over 1,000 customers in more than 30 countries, including Apple, NVIDIA, Intel, Lockheed Martin, Xilinx, and other enterprise clients, as well as research clients NASA, Harvard, Yale, UCLA, and CalTech.
The Round
Funds from this up to $35,461,049 Series B round led by Acorn Capital will be used for continued new product development, to expand the team, and to target new segments including quantum computing, automotive, and semiconductors. $28.5M of the round is already closed.
Co-investors include Lockheed Martin Ventures, ANU Connect Ventures, and Moelis Australia's Growth Capital Fund.
Meet the CEO
Watch an investor briefing with CEO Daniel Shaddock and learn more about Liquid Instruments.
The Liquid Instruments Solution
Liquid Instruments currently offers three versions of its Moku line of configurable, programmable test equipment:
- Moku:Pro features a suite of ten different instruments. It provides a multi-instrument mode, allowing users to simultaneously run more than one instrument. Advanced users also have the ability to program the FPGA array to implement custom digital signal processing.
- Moku:Lab is a less expensive product specifically targeting universities and labs. Moku:Lab is in use with hundreds of top R&D institutions worldwide, and brings over a dozen high-value instruments together in a single, compact device.
- Moku:Go is an entry-level product aimed at students and enthusiasts. It features 11 instruments, a full range of connectivity and optional programmable power supplies.
Next steps:
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