Neara, a pioneer in digital twin technology for critical infrastructure, has secured AUD 90 million (USD$63.5 million)in a Series D funding round, achieving a valuation of over US$700 million. Led by global growth equity firm TCV, this investment brings Neara's total capital raised to approximately US$127 million. The funding will bolster the company's mission to address critical global energy and infrastructure challenges amid rising demand.
Addressing a Critical Energy Nexus
Global power grids are facing unprecedented strain from the dual pressures of the energy transition and the explosive growth of AI and data centers. These demands are pushing aging infrastructure systems, originally designed for a different era, beyond their intended capacity. This creates a significant bottleneck for progress in electrification and digital innovation worldwide.
Neara's platform directly confronts this challenge by enabling utilities to unlock underutilized capacity within their existing networks. The technology accelerates the connection of new renewable energy sources and enhances grid resilience against increasing demand. This provides a faster, more intelligent method for managing and understanding complex infrastructure capabilities.
The Technology Driving the Change
At the core of Neara's solution is its physics-enabled digital twin, which creates a geometrically precise 3D model of an entire infrastructure network. Unlike statistical models, this platform grounds every simulation and analysis in real-world engineering physics. This approach provides asset owners with unparalleled confidence in their operational and investment decisions.
The tangible benefits for utilities are substantial, with the platform proven to bring new infrastructure online up to 85 percent faster. By consolidating workflows like planning, design, and vegetation management, clients have realized significant eight and nine-figure cost savings. This efficiency is critical for modernizing grids while managing risk and optimizing value.
Strategic Investment and Global Expansion
The Series D round was led by TCV, a firm known for backing category-defining companies like Netflix and Spotify, marking its third investment in an Australian-founded company. The participation of returning investors, including Partners Group and Square Peg Capital, further validates Neara's market leadership. This strong backing signals significant confidence in the company's differentiated approach to infrastructure management.
This new injection of capital is earmarked for strategic growth initiatives designed to scale Neara's global impact. The company plans to expand its international commercial footprint and accelerate its talent pipeline of machine learning and AI engineers. These investments will enhance the technology needed to solve the world's most pressing infrastructure problems.
Proven Impact and Industry Adoption
Neara has already demonstrated a transformative impact, modeling over 15 million assets across more than 3 million kilometers of infrastructure on four continents. Its client roster includes major international utilities such as Southern California Edison and CenterPoint Energy in the United States. In Europe, the company collaborates with key players like ESB Networks in Ireland and Scottish Power in the UK.
The company holds a commanding presence in its home market, working with nearly 90 percent of all network utilities in Australia. This includes partnerships with industry leaders like Ausgrid, Endeavour Energy, and Essential Energy. Such widespread adoption underscores the platform's effectiveness and its role as a new standard in the industry.
This $63.5 million funding round solidifies Neara's position as the creator of a new category of infrastructure intelligence. As global systems are pushed to their physical limits, the company's physics-based digital twins provide the foundational layer for optimized and resilient networks. The investment will empower Neara to expand its solutions globally, helping to build the infrastructure required for a sustainable and electrified future.