News

A Canberra start-up aiming to disrupt the $A120 billion global market for autonomous vehicle navigation systems has launched with investment from IP Group.

Forge Photonics, which is commercialising technology invented at the Australian National University, aims to dramatically reduce the cost of navigation systems for a range of markets including self-driving cars, marine vehicles, and defence. 

The investment is being led by IP Group, a leading early-stage science investor with a track record for developing and supporting some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). In Australia, where the Group also manages funds for Australian superannuation fund Hostplus, the team has backed groundbreaking ventures such as Hysata, Electralith and AMSL Aero. 

IP Group first partnered with the ANU in 2017 as part of a landmark agreement to commercialise technology arising from the university’s research.

Forge Photonics received a fresh injection of funding this week when ANU was the recipient of a Federal Government Australia’s Economic Accelerator seed grant of $200,000 to assist its progress towards commercialisation 

The grant and seed funding from IP Group and HostPlus will help its ANU team of researchers translate fundamental measurement science into a disruptive venture with global potential.

“Our work involves translating expert techniques for detecting gravitational waves – one of the hardest things to measure,” said Forge Photonics CTO, Dr Chathura Bandutunga.

“We are applying high precision measurements to photonic navigation systems – those that use light waves - to drastically reduce their cost and complexity.”

Forge Photonics draws on the expertise of globally leading physicists from the ANU Centre for Gravitational Astrophysics, a node of the ARC Centre of Excellence for Gravitational Wave Discovery, who have a track record of delivering impactful industrial projects in fibre optic sensing.

The team was involved in Breakthrough Starshot, a research and engineering project to develop a proof-of-concept fleet of light sail interstellar probes that was co-founded by Stephen Hawking and Mark Zuckerberg.

IP Group Principal Eeshan Kulkarni said: “We are excited by our investment in Forge Photonics, who are on their way to developing radically new architecture for navigation systems.”

He added: “Self-driving cars need to know where they are, otherwise they can crash and cause damage, injuries and death. Current navigation technology at a level that provides the desired degree of safety is uneconomical, and the solution developed by the Forge team can unlock the potential for widespread adoption.”

Dr Bandutunga said Forge Photonics was already in discussions with leading global navigation system players for about pilot projects.

“We expect a rapid pathway to global scale if our system achieves the required performance in pilots,” Dr Bandutunga said.

"I’m delighted that Forge Photonics is embarking on this collaboration with IP Group and Hostplus, marking a significant milestone for the company,” said The Australian National University Deputy Vice-Chancellor (Research and Innovation), Professor Lachlan Blackhall.

“This partnership highlights the critical role of fundamental research in addressing important industry challenges, and positions us at the forefront of the global autonomous vehicle technology boom. We look forward to the continued success and impact of Forge Photonics over the years ahead.”

About IP Group

IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech. The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc. In Australia and New Zealand, IP Group works in close partnership with the Go8 Universities and the University of Auckland to identify ground-breaking technologies rooted in hard science, which have the most promising commercial potential. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. For more information, please visit our website at www.ipgroupanz.com

ENDS

For more information, please contact:

Craig Regan, Primary Communication +61 408 448 527