Liquid Instruments
Liquid Instruments builds FPGA-based, software-defined test and measurement platforms (Moku:Delta, Pro, Lab, Go) that consolidate 16+ bench instruments onto a single reconfigurable device. The company serves aerospace, defense, quantum, semiconductor, and academic research customers with hardware sales and cloud-compile subscriptions.
- Company typePrivate
- Founded2014
- HeadquartersSan Diego, United States
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Liquid Instruments does
Liquid Instruments is a privately held test and measurement company founded in 2014 as a spinout of the Australian National University, commercializing Nobel Prize-winning measurement science and technology lineage traceable to NASA JPL. The company builds software-defined, FPGA-based instrumentation platforms — branded under the Moku family — that consolidate up to 16+ traditional bench instruments (oscilloscope, spectrum analyzer, lock-in amplifier, phasemeter, frequency response analyzer, PID controller, waveform generator, neural network, and others) onto a single reconfigurable device. The current hardware line spans four platforms: Moku:Delta (flagship, 2 GHz bandwidth), Moku:Pro (600 MHz), Moku:Lab (200 MHz research) and Moku:Go (30 MHz portable/education), all sharing the same MokuOS software, Multi-Instrument Mode, and Moku Cloud Compile workflow built on AMD Vivado.
The company monetizes primarily through quote-based hardware sales — multi-year enterprise contracts to aerospace/defense, quantum computing, semiconductor, photonics, and academic research customers — with a secondary recurring revenue stream from Moku Cloud Compile subscriptions (Base free, Premium and Enterprise paid per-seat tiers). Distribution combines direct enterprise field sales, an online store, and a regional reseller network (Avnet, Laser 2000 GmbH in EU, Laser 2000 UK), and the company maintains dual legal entities (Liquid Instruments, Inc. in California and Liquid Instruments Pty. Limited in Australia) with US headquarters in San Diego, Australian global headquarters in Canberra, and manufacturing in Melbourne.
Liquid Instruments serves marquee customers including NASA, NIST, Lockheed Martin, Blue Origin, Nvidia, Intel, Texas Instruments, Apple, BYD, PsiQuantum, CERN, Stanford, Caltech, and Keysight Technologies. Following the April 2026 $50M Series C co-led by Keysight and Australia's NRFC, the company has begun expanding its AI-driven product surface (Generative Instrumentation, Moku AI, Neural Network on FPGA), scaling Melbourne-based manufacturing, and deepening a strategic commercial partnership with Keysight to co-develop AI-driven instrumentation. Over 90% of revenue is generated from international markets.
Liquid Instruments firmographics
Firmographics- Name
- Liquid Instruments
- Legal name
- Liquid Instruments, Inc.
- Website
- https://liquidinstruments.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Liquid Instruments builds FPGA-based, software-defined test and measurement platforms (Moku:Delta, Pro, Lab, Go) that consolidate 16+ bench instruments onto a single reconfigurable device. The company serves aerospace, defense, quantum, semiconductor, and academic research customers with hardware sales and cloud-compile subscriptions.
- Ownership category
- akta.pro rank
Liquid Instruments industry classification
Industry- Product category
- Electronic Test and Measurement Equipment
- NAICS
- Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)
- SIC
- Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Programmable Logic (FPGAs/CPLDs) (HDAHAJAG)
- akta.pro secondary industries
- System-Level, Multi-Physics & Package/PCB Co-Design (EDA) (HDAHAFAD), Compute & Acceleration ICs (CPU/GPU/AI/FPGA/ASIC) (HDAHABAC), Application Processors & Microprocessors (MPUs/CPUs) (HDAHAJAB)
Keywords
Where Liquid Instruments is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Liquid Instruments business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure
Revenue model
- Hardware Sales (Moku instruments): One-time sale of Moku:Delta, Moku:Pro, Moku:Lab, and Moku:Go FPGA-based test instruments. Primary revenue driver; quote-based pricing for enterprise. Mix favors high-margin international sales (>90% of revenue).
- Moku Cloud Compile Subscriptions: Recurring subscription tiers (Base free, Premium, Enterprise) for Moku Cloud Compile, unlocking advanced FPGA programming workflows, HDL/MATLAB/Python support, and cloud-based deployment. Per-seat pricing.
- Software Licensing (Moku: app): Free-to-download companion software (iOS, macOS, Windows) that controls the hardware; monetized indirectly via hardware sales and subscription tiers rather than standalone software licensing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Hardware (Moku:Delta, Pro, Lab, Go): Quote-based, not publicly disclosed |
| Freemium | Annual | Moku Cloud Compile — Base: Free tier |
| Per seat | Annual | Moku Cloud Compile — Premium: Paid per seat |
| Per seat | Multi-year contract | Moku Cloud Compile — Enterprise: Paid per seat, enterprise features |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels9 records
Liquid Instruments product offering
Product offeringCore offering
Liquid Instruments develops software-defined test and measurement systems built on FPGA hardware, enabling engineers to consolidate 16+ instruments (oscilloscope, spectrum analyzer, lock-in amplifier, PID controller, AWG, etc.) onto a single reconfigurable device. The Moku product line (Delta, Pro, Lab, Go) pairs FPGA-powered hardware with the MokuOS companion software, Moku Cloud Compile for custom FPGA logic deployment, and Python/MATLAB/LabVIEW APIs. The platform targets aerospace, defense, quantum computing, semiconductor, photonics, and academic research customers.
Product overview
Liquid Instruments offers a unified, software-defined test and measurement platform built around the Moku FPGA-powered hardware ecosystem. At the platform's core are four flexible hardware platforms — Moku:Delta (flagship, 2 GHz bandwidth), Moku:Pro (versatile, 600 MHz), Moku:Lab (research, 200 MHz), and Moku:Go (portable/education, 30 MHz) — each capable of running up to 16 integrated instruments (including Oscilloscope, Spectrum Analyzer, Phasemeter, Lock-in Amplifier, Frequency Response Analyzer, Logic Analyzer/Pattern Generator, Time & Frequency Analyzer, Data Logger, Waveform Generator, Arbitrary Waveform Generator, PID Controller, Digital Filter Box, FIR Filter Builder, Laser Lock Box, Gigabit Streamer, Neural Network, Generative Instrumentation, and Custom Instrument) and connecting them via Multi-Instrument Mode. The hardware is paired with MokuOS/Moku App software (Windows, macOS, iPadOS, visionOS), a set of developer APIs (Python, MATLAB, LabVIEW), Moku Cloud Compile/On-prem Moku Compile for FPGA code deployment (built on AMD Vivado), and emerging AI features including Generative Instrumentation and the Moku AI support assistant. Together, these layers replace racks of fixed-function hardware with a single reconfigurable device used by customers in aerospace, defense, quantum, semiconductor, photonics, and education sectors.
Differentiator
Problem solved
Functional benefit
Brands
- Moku:Delta: High-end FPGA-powered hardware platform with 2 GHz instantaneous bandwidth for advanced design and validation.
- Moku:Pro
- Moku:Lab
- Moku:Go
- MokuOS
- Moku Cloud Compile
Products and services
- Moku:Delta Flagship Moku hardware platform for advanced design and validation. Delivers 2 GHz instantaneous bandwidth, ultra-low-noise high-resolution front end (input noise < 10 nV/√Hz via blended ADC technology), and built-in 1 TB SSD. Engineered for aerospace and defense test and measurement challenges.
- Moku:Pro Versatile test and measurement hardware platform supporting four simultaneous instruments with bandwidths up to 600 MHz. Supports Multi-Instrument Mode, Neural Network, and a wide range of integrated instruments for R&D workflows. Classified under Export Control Classification Numbers 3A992 and 3D991.
- Moku:Lab FPGA-powered hardware platform for experimental research labs offering 200 MHz bandwidth, low-latency control, and affordable multi-instrument integration.
- Moku:Go Compact, portable, easy-to-use hardware platform combining eight electrical testing instruments into one device with 30 MHz bandwidth. Designed for students, remote education, and small engineering shops for quick experiments and testing.
- Moku Cloud Compile / Moku Compile Code-to-FPGA deployment product available as Moku Cloud Compile (hosted) or On-prem Moku Compile. Built upon AMD Vivado Design Suite. Offered in Base, Premium, and Enterprise subscription tiers; on-prem deployment limited to Enterprise tier. Enables users to write code, compile, and deploy custom DSP to Moku FPGAs.
Quantifiable outcome
- Consolidates 16+ instruments onto a single FPGA-based device
- +3 more outcomes
Companies that use Liquid Instruments
Customer profileNamed customers15 records
Segments10 records
Ideal customer profiles4 records
Liquid Instruments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
AI capability10 records
Feature7 records
Liquid Instruments partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- AvnetminorDistribution and demand-generation partner participating in the AMD on Wheels roadshow, supporting Moku sales alongside AMD-based ecosystems.
- Laser 2000 GmbHcoreEuropean authorized representative / distributor for Liquid Instruments, providing regional sales and customer support across EU markets.
- Laser 2000 (UK) LtdcoreUK authorized representative / distributor for Liquid Instruments, providing regional sales, technical support, and customer service in the United Kingdom.
Scale indicators8 records
Recent moves8 records
Expansion highlights7 records
Liquid Instruments competitors and assessment
Company assessmentBroad incumbents
- Keysight Technologies: Keysight is the global leader in electronic test and measurement with broad portfolios in oscilloscopes, spectrum analyzers, and signal sources. It is directly comparable to Liquid Instruments as the dominant incumbent in the same T&M market, and is simultaneously co-lead of Liquid Instruments' Series C and a strategic commercial partner.
- Tektronix: Tektronix (a Fortive company) is a leading oscilloscope and T&M manufacturer serving semiconductor, aerospace, and education customers. Overlaps with Liquid Instruments across core bench instruments and target verticals, but competes from a broad incumbent position rather than a software-defined FPGA niche.
- National Instruments (NI): NI (now part of Emerson) provides modular, FPGA-based test and measurement platforms and LabVIEW software — directly comparable software-defined test workflows. It is a broad incumbent competing with Liquid Instruments across semiconductor test, research, and A&D, and owns Digilent which overlaps on FPGA-based instruments.
- Rohde & Schwarz: Rohde & Schwarz is a major European T&M vendor with strong positions in spectrum analyzers, oscilloscopes, and aerospace/defence test. It competes with Liquid Instruments across RF and aerospace accounts, especially in EU markets where Liquid Instruments is also active.
- Teledyne LeCroy: Teledyne LeCroy is a leading oscilloscope and protocol test vendor serving semiconductor and serial data customers. It is comparable to Liquid Instruments as a broad incumbent offering high-performance bench instruments with overlap in target segments.
Direct peers
- Zurich Instruments: Zurich Instruments makes FPGA-based lock-in amplifiers, impedance analyzers, and quantum control electronics. It is a direct peer to Liquid Instruments, competing head-to-head in lock-in amplifiers, phasemeters, and quantum/photonics research labs.
- Quantum Machines: Quantum Machines builds FPGA-based quantum control and orchestration systems (OPX) for quantum computing labs. Directly competes with Liquid Instruments in reconfigurable FPGA control electronics for quantum accounts such as PsiQuantum and research labs.
- Qblox: Qblox provides scalable qubit control and readout stacks built on FPGA for quantum computing customers. Directly comparable to Liquid Instruments in quantum control electronics targeting similar customers (universities, quantum hardware startups).
- Spectrum Instrumentation: Spectrum Instrumentation builds modular, FPGA-based digitizers and arbitrary waveform generators for OEM and research customers. It is a direct peer to Liquid Instruments' Moku hardware platforms in FPGA-based modular test and measurement.
Emerging players
- Swabian Instruments: Swabian Instruments makes FPGA-based photon counting and time-tagging modules used in quantum optics and microscopy research. Comparable to Liquid Instruments' Time & Frequency Analyzer and photonics use cases, focused on a narrower set of high-end research applications.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights7 records
Customer concentration
Liquid Instruments social profiles
Digital presenceLiquid Instruments compliance and trust
Trust signalCompliance4 records
Liquid Instruments financial estimates
Financial estimateRevenue estimate
Valuation estimate
Liquid Instruments leadership team
Management profileNumber of profiles
Profiles4 records
Liquid Instruments subsidiaries and ownership
Company hierarchySubsidiaries1 record
Liquid Instruments funding detail
Funding detailFunding overview
Funding rounds6 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Liquid Instruments M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Liquid Instruments
What does Liquid Instruments do?
Liquid Instruments develops software-defined test and measurement systems built on FPGA hardware, enabling engineers to consolidate 16+ instruments (oscilloscope, spectrum analyzer, lock-in amplifier, PID controller, AWG, etc.) onto a single reconfigurable device. The Moku product line (Delta, Pro, Lab, Go) pairs FPGA-powered hardware with the MokuOS companion software, Moku Cloud Compile for custom FPGA logic deployment, and Python/MATLAB/LabVIEW APIs. The platform targets aerospace, defense, quantum computing, semiconductor, photonics, and academic research customers.
Is Liquid Instruments a public or private company?
Liquid Instruments is a private company. It is classified as venture growth investor backed and is currently operating.
When was Liquid Instruments founded?
Liquid Instruments was founded in 2014. It employs 51 to 100 people.
Where is Liquid Instruments based?
Liquid Instruments is headquartered in San Diego, United States, in the North America region.
How does Liquid Instruments make money?
Three revenue lines are on record. Hardware Sales (Moku instruments) is the primary driver. The others are moku Cloud Compile Subscriptions and software Licensing (Moku: app).
Who are Liquid Instruments's main competitors?
Broad incumbents on record are Keysight Technologies, Tektronix, National Instruments (NI), Rohde & Schwarz and Teledyne LeCroy. Direct peers are Zurich Instruments, Quantum Machines, Qblox and Spectrum Instrumentation. Swabian Instruments is listed as an emerging player.
Does Liquid Instruments have an API?
Yes. Liquid Instruments offers public APIs enabling developers to build software applications that communicate with Moku Products and Software. APIs are available for Python, MATLAB, and LabVIEW, allowing programmatic control of Moku hardware platforms and instruments. A separate Moku Compile product enables users to write and compile code (using AMD Vivado Design Suite) for deployment on Moku FPGAs via Cloud or On-prem deployment models (Base, Premium, Enterprise subscription tiers). APIs and Moku Cloud Compile are governed by dedicated API License Terms and Moku Compile Terms. Developer documentation is at liquidinstruments.com/products/apis.
What industry is Liquid Instruments in?
Liquid Instruments's product category is Electronic Test and Measurement Equipment. Its primary akta.pro industry code is HDAHAJAG, Programmable Logic (FPGAs/CPLDs), with a secondary code of HDAHAFAD, System-Level, Multi-Physics & Package/PCB Co-Design (EDA). Its NAICS code is 334515 and its SIC code is 3825.