# Liquid Instruments

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/liquid-instruments

- Industry: Hardware
- Headquarters: San Diego, US
- Website: www.liquidinstruments.com
- Total disclosed funding: $115M
- Latest round: Series C (Apr 28, 2026)
- Investors on record: 14

## About

Based in California, US, and founded in 2014 by co-founders Daniel Shaddock (CEO), Danielle Wuchenich Ph.D., David Rabeling Ph.D., Paul Altin Ph.D., Ben Coughlan Ph.D., Timothy Lam Ph.D., and Magnus Hsu Ph.D., Liquid Instruments, Inc. operates as a provider of software-defined test and measurement solutions for engineers, scientists, and research institutions, offering a reconfigurable platform for various experimental needs. In April 2026, Liquid Instruments Inc. raised USD 70 million in series C funding co-led by new investors Keysight Technologies, Inc. and National Reconstruction Fund Corporation, with participation from another new investor Tribeca Financial. Returning investors Breakthrough Victoria, Significant Capital Ventures, Acorn Capital and other unspecified investors also participated in the round. The company will use the April 2026 funding to accelerate product development, scale its AI-powered test and measurement platform, and expand sales and market reach across aerospace, defense, and semiconductor sectors.

The company provides a wide range of test and measurement instruments, including FPGA-based devices designed for reconfigurable scenarios and integrated solutions like Moku, which integrate multiple test instruments into a single device. These products offer functions like oscilloscopes, spectrum analyzers, and waveform generators, all accessible through their software. Additionally, the platform is designed to connect the signal processing power of a field-programmable gate array (FPGA) with analog inputs and outputs and is controlled through the company's instruments' iPad App or its LabVIEW, Python, and MATLAB APIs (Application Programming Interfaces).

## Funding rounds

- Series C, Apr 28, 2026, $50M — Acorn Capital, Keysight Technologies, Inc., Significant Capital Ventures, Tribeca Financial, Innovation Victoria, National Reconstruction Fund Corporation
- Series B, Jun 19, 2024, $15M — Powerhouse Ventures, Lockheed Martin Ventures, Acorn Capital, Breakthrough Victoria
- Series B, Sep 13, 2022, $29M — ANU Connect Ventures, Powerhouse Ventures, MA Asset Management, Lockheed Martin Ventures, Acorn Capital, Significant Capital Ventures, BOMAN ENTERPRISES INC.
- Series B, May 19, 2021, $14M — ANU Connect Ventures, MA Asset Management, Anzu Partners, F1 Solutions
- Series A, Jan 23, 2019, $8.2M — ANU Connect Ventures, Anzu Partners

## Investors

- ANU Connect Ventures (https://capitalatlas.ai/funds/anu-connect-ventures) — Series A, Series B
- Anzu Partners (https://capitalatlas.ai/funds/anzu-partners) — Series A, Series B
- MA Asset Management — Series B
- F1 Solutions — Series B
- Powerhouse Ventures — Series B
- Lockheed Martin Ventures (https://capitalatlas.ai/funds/lockheed-martin-ventures) — Series B
- Acorn Capital — Series B, Series C
- Significant Capital Ventures (https://capitalatlas.ai/funds/significant-capital-ventures) — Series B, Series C
- BOMAN ENTERPRISES INC. — Series B
- Breakthrough Victoria — Series B
- Keysight Technologies, Inc. — Series C
- Tribeca Financial — Series C
- Innovation Victoria — Series C
- National Reconstruction Fund Corporation — Series C