Neara, a pioneer in physics-enabled digital twin modelling for critical infrastructure, has closed an AUD 90 million (over USD 60 million) Series D funding round to accelerate its efforts to solve global infrastructure challenges. The round was led by TCV, a global growth equity firm, with returning investors including Partners Group, EQT, Square Peg Capital, and Skip Capital. With this raise, Neara’s total funding to date reaches approximately AUD 180 million.
Neara’s physics-enabled digital twin technology enables utilities and infrastructure owners to create detailed 3D models of entire networks, identify underutilised capacity, accelerate new infrastructure and renewable connections, and ensure grid reliability amid rising energy demand. The platform has modelled over 15 million assets spanning more than 3 million kilometres across four continents, helping utilities reduce reliability risks, bring infrastructure online faster, and achieve eight- and nine-figure cost savings.
The Series D funding will support Neara’s global expansion, including growth of its machine learning and AI engineering teams, and further international commercial reach. Neara works with major utilities worldwide, including Southern California Edison and CenterPoint Energy in the U.S., ESB Networks in Ireland, Scottish Power in the U.K., Hedno in Greece, and nearly 90% of network utilities in Australia.
KEY QUOTES
“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.”
Jack Curtis, Co-founder and Chief Commercial Officer, Neara
“This investment marks TCV’s third investment in an Australian-founded, category-defining technology. 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.”
Muz Ashraf, General Partner, TCV
