Our Investments: Neara
Neara sits at the intersection of software, energy infrastructure, climate & sustainability and AI/ML
- Headquarters: Sydney, Australia
- Founded: 2018 by Daniel Danilatos (Founder & CEO)
- Industry: Utilities & Renewable Energy
- Website: www.neara.com
Neara is an infrastructure modelling platform that uses artificial intelligence (AI) to create 3D, network-wide models for engineering-grade simulations and analytics. These models help utilities design and optimize their networks, strengthen wildfire and vegetation management programmes and bring renewable projects online faster. Global utilities trust Neara’s model to power critical decisions, diagnose asset performance, and drive seven-figure plus grid hardening investments without verification from manual field surveys.
More on Neara:
- Neara’s platform enables large scale digitization, modelling, and analysis, allowing utility operators to make highly accurate and sophisticated decisions at all organizational levels to solve their most pressing challenges (including combating climate change and extreme weather events, accelerating the integration of renewable energy, and mitigating high risk exposure areas). The Company’s platform aggregates data across a wide range of disparate systems, serving as a single source of truth for asset diagnostics, deterministic predictions and business decisioning.
- A confluence of challenges are further stressing ageing electric grids: historical underinvestment in electric infrastructure assets, growing regulatory pressure for improved grid reliability and resiliency, increased frequency of severe weather patterns, and ambitious energy transition policies, further exacerbated by growing demand for electricity. Legacy systems that operate in silos are unable to generate the insights and analytics required to enable effective grid improvements and transformations – resulting in a clear gap in the market today.
- The platform enables utilities to make faster, better-informed decisions in pursuit of the modernizing, digitizing and decarbonizing of existing utility infrastructure assets. The company has a unique offering that has allowed utilities to unlock use cases at scale that were previously not possible. Neara has helped global utilities spanning over 1 million square miles with more than 8 million assets to identify and reduce risks 9x faster, double the network capacity using only existing infrastructure, and restore power 3x faster than ever before following severe weather-related outages.
The press release on the full investment news can be found here: Prosus.com/Neara