Neara, a company known for its physics-based digital twin technology used in critical infrastructure, has raised AU$90 million in a Series D funding round. The funding will help the company speed up its efforts to solve major infrastructure challenges around the world.
The round was led by TCV, a global growth equity firm that has backed well-known tech companies such as Netflix, Revolut, Spotify, Toast, Clio, Employment Hero, Nubank, SiteMinder, and Xero.
Neara’s existing investors, including Partners Group, EQT, Square Peg Capital, and Skip Capital, also took part in this funding round. Their continued support highlights Neara’s strong position as a leader in next-generation digital twin technology.
With this latest raise, and following its AU$45 million Series C in late 2024, Neara has now raised around AU$180 million in total funding to date.
As the world faces challenges like ageing power grids, the shift to clean energy, and the rapid growth of AI and data centres, Neara is well placed to help. The company focuses on solving a key issue behind all these challenges—reliable access to energy.
“Power grids all over the world are reaching their limits under the combined pressure of AI, electrification, and rapidly rising demand. Across energy, transport, and communications, systems built for a different era are now being pushed beyond their design assumptions. The world needs faster, more intelligent ways to understand what infrastructure is really capable of and how it behaves in the contexts that matter most. Neara grounds every simulation analysis in real-world physics, giving asset owners and operators the confidence to stretch capacity, manage risk, and invest where it matters most for both today’s constraints and the demands of the future,” said Jack Curtis, Co-founder and Chief Commercial Officer at Neara.
“This investment marks TCV’s third investment in an Australian-founded, category-defining technology,” said Muz Ashraf, General Partner, TCV. “We believe the infrastructure challenges facing the world, from climate resilience to energy access for AI compute require fundamentally new approaches. Neara’s highly differentiated, physics-enabled digital twin platform is a leap forward in how utilities manage their grids. We look forward to supporting Neara in their growth journey as they work to expand their impact globally.”
Neara’s technology is already being used across major infrastructure networks around the world. It has digitally modelled over 15 million assets covering more than 3 million kilometres across four continents.
Using Neara’s physics-based models, utility companies are able to spot and reduce risks, bring new infrastructure online 85% faster, and save hundreds of millions in costs.
Neara helps utilities save time and money by combining different tasks—such as planning, design, and vegetation management—into a single platform, instead of using multiple systems.
With this funding, Neara strengthens its position as a leader in infrastructure intelligence. As infrastructure systems operate closer to their limits, simple estimates are no longer enough. Neara’s physics-enabled digital twins reflect real-world engineering conditions, helping organisations make better, safer, and more informed decisions.
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