Neara raises $15.25 million to fund global expansion

Three smiling men in business attire sit side by side posing for photo (neara)
Caption: Neara founders Karamvir Singh, Daniel Danilatos and Jack Curtis

Australian-based climate tech software platform firm Neara has closed a $15.25 million funding round to support further expansion and accelerate the global energy transition in North America and Europe.

Neara is driving the clean energy transition by helping utilities future-proof infrastructure through 3D digital modelling—from severe weather like bushfires and floods, to a clean energy future. Its AI and ML platform unlocks underutilised network capacity to enable accelerated clean energy deployment.

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Neara is helping major Network Service Providers (NSPs) including AusGrid, Essential Energy, Endeavour Energy, South Australia Power Networks and Transgrid optimise their networks across a broad spectrum of critical use cases, and in some cases, identify and access existing yet untapped network capacity to accelerate clean energy timelines. Since Neara’s initial raise in 2021 and its Series B in 2022, Neara has seen recent local growth to diversify Australia’s approach to the clean energy transition beyond coal projects and new renewable projects.

This latest raise will help Neara evolve its functionality and underscore its role in sourcing and accessing existing, yet untapped, network capacity for energy providers. The platform will provide solutions for an array of decarbonisation challenges including addressing current network capacity constraints, existing infrastructure upgrade issues, hefty time and cost investments required for new infrastructure, and manual processes of connecting new generation projects to the network.

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Neara chief commercial officer Jack Curtis said, “To meet global decarbonisation goals, including in North America, Europe and Australia, the energy industry needs to significantly integrate more renewable assets. Technology plays a critical role in facilitating this transition, and this new funding will help us expand and deliver functionality to network operators, generators, regulators and customers in one unified platform, enabling them to bring renewable generation online faster and at a global scale.”

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