Sydney’s Neara Secures $45M in Series C Funding to Bolster Global Infrastructure Modernisation Efforts
Climate Insider Brief:
- Neara, a Sydney-based climate tech company, raised $45 million in a Series C round led by EQT, supported by Partners Group, Square Peg Capital, Prosus Ventures, and Skip Capital.
- This funding is set to boost Neara’s growth in offshore markets, particularly in North America and Europe, to enhance energy resilience and infrastructure modernization.
- Founded in 2019, Neara has developed a pioneering AI-driven predictive modeling platform that enables utility companies to optimize infrastructure management by rapidly simulating scenarios and suggesting effective mitigation strategies.
Sydney-based climate tech company Neara has secured $45 million in a Series C funding round led by global investor EQT, aiming to capitalize on business growth in offshore markets tackling energy resilience and infrastructure modernization. Founded in 2019 by Jack Curtis, Dan Danilatos, and Karamvir Singh, Neara is credited with developing the first AI-powered predictive modelling platform for critical infrastructure, significantly scaling its operations in North America and Europe to facilitate the global clean energy transition.
This funding round included support from Partners Group, Square Peg Capital, Prosus Ventures, and Scott Farquhar’s Skip Capital. Both Prosus Ventures and Skip Capital are existing backers, while Square Peg has been involved with Neara since its early stages.
Neara’s 3D digital modelling technology is designed to enable utility companies to adopt proactive network optimization strategies, rapidly simulating safety and reliability scenarios and recommending the most effective mitigation measures. According to the company, this process allows for essential analyses that traditionally took months or years to be completed in mere hours or days. This enhanced capability enables utility companies to make swift, informed decisions on load growth, emergency responses, and other critical operational factors.
Since its inception, Neara has modelled over 12 million infrastructure assets, covering more than 2.4 million kilometers across four continents. The company has built strong relationships with Australian utilities such as Essential Energy, Ausgrid, and Powercor, and expanded its partner network globally to include CenterPoint Energy and Southern California Edison in the US. Neara’s European footprint has also grown, adding clients like ESB Networks in Ireland, Scottish Power in the UK, and Hedno in Greece.
Jack Curtis, Neara’s chief commercial officer, emphasized the importance of resilient infrastructure to support the demands of modern energy grids. “We are asking the grid to do more in the next 10 years than we have in the last 50,” Curtis noted. “Neara helps strengthen critical infrastructure to keep global communities safe, connected, and economically viable despite intensifying severe weather, age, and overuse.”
Neara’s platform has gained recognition for its ability to enhance data-driven decision-making, reportedly helping global utilities identify potential outage risks nine times faster, restore power three times faster, and accelerate the deployment of new infrastructure by 85%. The new funding marks EQT’s first venture growth investment in an Australian company, signaling the firm’s commitment to advancing scalable platforms throughout their growth journey. Frank Heckes, a partner at EQT, remarked, “We are excited to further advance Neara’s growth and impact by leveraging our global network and expertise across energy transition and infrastructure augmentation.”
The strategic investment reflects Neara’s critical role in simplifying complex infrastructure projects, helping utilities optimize existing systems and accelerate renewable energy integration. The company is also preparing to expand its simulation technology into new sectors, including telecommunications and public transportation, and is already supporting broadband initiatives in the US to improve access in underserved areas.
Cyrus Driver, managing director at Partners Group, highlighted the pressing need for adaptable infrastructure solutions, stating, “In many cases, infrastructure is lagging behind rapidly changing societal needs, including across the energy grid, transportation, and digital infrastructure. Neara’s industry-leading technology is essential for every asset owner to run high-functioning and resilient infrastructure.”
With this fresh funding, Neara is poised to enhance its global reach and solidify its position as a transformative force in infrastructure modernization.
Source: Business News Australia
Featured Image: Credit: Neara
