Liquid Instruments, a Canberra-based maker of software-defined test tools, said on April 29 that it received an A$28.45 million (US$20.4 million) investment from the National Reconstruction Fund.

The funding underscores support for advanced technology development in Australia.

The funding is part of an A$70 million (US$50.2 million) series C round and will help the company move manufacturing from Southeast Asia and the US to Melbourne.