Neara is growing globally, with a key orientation on the United States, to assist energy providers in managing the increasing effects of global warming, improving network stability, and accelerating clean energy integration. The company confirmed a $14 million Series B fundraising round.
Neara intends to address the most pressing concerns confronting utilities, such as an increasingly unstable ecosystem, catastrophic weather occurrences, and obligations to increase renewable energy generation.
The Australian-based SaaS platform will use the fresh capital to extend its global network and platform features, including into new sectors. Alongside its $5 million Series A funding, Neara’s Series B takes its total funding to $19 million.
Neara produces digital models of the whole network infrastructure to allow utilities to be more effectively prepared and capable of responding to any predictable or unpredictable weather event. It also promises to facilitate the sophisticated technical studies required to optimize current networks and more efficiently incorporate renewables.
The key infrastructure on which we all rely every day for basic requirements such as power is under threat from annual weather crises, floods and fires being the more common culprits.
The utility business is spending billions of dollars analyzing and maintaining its aging assets while also attempting to figure out how to incorporate renewable resources.
According to Jack Curtis, Neara’s chief commercial officer, the platform provides a holistic approach to solving these major concerns while facilitating breakthroughs toward cost savings, safety, and dependability for customers and the people they serve.
Kim Jackson, the head of Skip Capital, has also expressed excitement about the global potential Neara has shown. Neara has effectively revolutionized the way utilities operate infrastructures in response to various weather emergencies.
Neara is an artificial technology and machine intelligence company founded in 2016 by ex-Google software developer Daniel Danilatos. With an engineering and scientific engine, the software can be used to develop or remodel network components, analyze potential dangers, and manage real assets.