Liquid Instruments, a San Diego-based pioneer in software-defined test solutions, has closed a $50 million Series C funding round co-led by Keysight Technologies and the Australian Government’s National Reconstruction Fund Corporation. In addition to investing, Keysight will enter into a commercial arrangement with Liquid Instruments to accelerate the development of a new class of AI-driven instrumentation.
Liquid Instruments takes a fundamentally different approach to test and measurement by consolidating multiple instruments into a single reconfigurable platform, allowing users to create and deploy custom measurement solutions in minutes rather than months. The platform combines high-performance hardware with intelligent software, enabling engineering teams to design, test, and deploy systems with greater speed, flexibility, and precision.
The company serves thousands of users worldwide, including top technology companies, research institutes, quantum startups, and defense primes. Strong adoption is being driven by engineering teams seeking more adaptable and efficient approaches to test as systems grow increasingly complex. Key target verticals include aerospace, defense, and semiconductor.
The National Reconstruction Fund Corporation’s participation highlights its mandate to support Australian technology companies scaling globally in critical sectors. Keysight Technologies, a global leader in design, emulation, and test solutions, brings both capital and a commercial partnership that extends Liquid Instruments’ reach across Keysight’s extensive customer portfolio.
The funding will be used to accelerate product development, scale the AI-powered platform, and expand go-to-market efforts across priority verticals.
KEY QUOTES:
“Keysight has long set the standard for precision, innovation, and trust in its solutions for the most complex engineering challenges, and its investment is a strong validation of our approach. As systems grow more complex, our users need more flexible, AI-driven tools, and this new partnership with Keysight will accelerate that shift.”
Daniel Shaddock, CEO and Co-Founder, Liquid Instruments
“The industry is shifting toward software-first and AI-enabled architectures. Liquid Instruments extends this by using software and AI to directly shape hardware behavior, creating more adaptable instrumentation. Together with Keysight’s extensive portfolio, this enables more scalable and integrated test solutions.”
Joaquin Torrecilla, Vice President of Software Transformation, Keysight Technologies
“Liquid Instruments exemplifies the kind of high-impact innovation that strengthens sovereign capability while competing on the world stage.”
Mary Manning, CIO, National Reconstruction Fund Corporation
“Advances in instrumentation are central to scientific discovery. More adaptable and accessible measurement technologies enable researchers and engineers to explore problems that were previously out of reach, accelerating progress across both fundamental science and applied engineering.”
Brian Schmidt, Nobel Laureate and Board Member, Liquid Instruments
