Neara, a Sydney, Australia-based AI-driven predictive modeling platform for critical infrastructure, has raised $31 million in Series C funding.
Investors
The round was led by EQT, joined by Partners Group, Square Peg Capital, and existing investors Skip Capital and Prosus Ventures.
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets), operating within two business segments: Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific, and the Americas, supporting them in achieving sustainable growth, operational excellence, and market leadership.
Neara Use of Funds
The funding will accelerate Neara's global operations across the United States, the United Kingdom, Europe, and Asia Pacific. The company will also expand its modeling and simulation capabilities to additional critical infrastructure sectors, including telecommunications and public transportation.
About Neara
Neara provides AI-powered predictive modeling software designed for critical infrastructure, particularly in the energy sector. The platform helps infrastructure owners make critical proactive decisions by conducting precise analyses in hours and days. Its network-wide simulations provide insights into asset behavior under various scenarios, facilitating more efficient and cost-effective decision-making. The platform supports comprehensive network governance, addressing everything from routine operations to emergency scenarios and significant grid-hardening investments without manual surveys.
Funding Details
Company: Neara
Raised: $31.0M
Round: Series C
Funding Date: October 2024
Lead Investor: EQT
Additional Investors: Partners Group, Square Peg Capital, Prosus Ventures
Company Website: https://neara.com/
Software Category: AI Predictive Modeling
Source: https://www.prweb.com/releases/cornerstone-ai-adds-another-5-million-to-empower-biopharma-and-healthcare-companies-to-get-more-from-their-data-302291205.html