Neara Bags $90M to Transform Infrastructure with AI

Neara, a technology company that builds advanced digital models of real-world infrastructure, has raised AUD 90 million in a Series D funding round to speed up its mission of solving major global infrastructure challenges.

The round was led by TCV, a well-known global investment firm that has backed companies like Netflix, Spotify, Revolut, and Xero.

Several existing investors also participated, including Partners Group, EQT, Square Peg Capital, and Skip Capital.

This strong backing highlights Neara’s growing influence in a new category known as physics-enabled digital twins, highly accurate digital replicas of physical infrastructure. With this latest funding, Neara has now raised around AUD 180 million in total.

The timing of this investment is critical. Around the world, energy networks are under pressure due to ageing infrastructure, the shift to renewable energy, and the rapid growth of AI systems and data centres.

These data centres consume massive amounts of electricity, and global power usage from them is expected to more than double by 2030. The biggest challenge holding progress back is access to reliable energy.

Neara’s technology helps solve this problem by showing where existing energy networks still have unused capacity.

This allows utilities to connect new infrastructure and renewable energy sources much faster, while also improving grid reliability. Instead of relying on estimates or outdated models, Neara uses real-world physics to help engineers make better decisions.

The company already works with major utility providers across the globe. In the United States, its partners include Southern California Edison and CenterPoint Energy.

In Europe, Neara has supported utilities such as ESB Networks in Ireland, Scottish Power in the UK, and Hedno in Greece. In Australia, Neara works with nearly 90% of the country’s network utilities.

The new funding will be used to hire more machine learning and AI engineers and to expand Neara’s presence in international markets. So far, its platform has modelled more than 15 million infrastructure assets across four continents, covering over 3 million kilometres.

By helping utilities bring new infrastructure online up to 85% faster and save hundreds of millions in costs, Neara is redefining how critical infrastructure is planned, managed, and protected in an increasingly energy-hungry world.