Power Infrastructure Start-up Neara Reaches Unicorn Status with AI Models to Reinvent Energy Grids
Australian Financial Review
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Details
- Date Published
- 9 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 9 Feb 2026, 06:15 pm
Description
Neara, which uses AI to create digital versions of critical power infrastructure, has cracked the billion-dollar valuation milestone after raising $90 million.
Summary
Neara, an Australian start-up utilizing artificial intelligence to transform power grids, has achieved unicorn status with a valuation exceeding $1 billion after securing $90 million in funding. The company's AI models are leveraged by international power companies to simulate scenarios such as extreme weather events, optimizing energy usage and distribution. This development highlights advancements in AI applications related to energy infrastructure, though the article does not directly address existential or catastrophic AI risks. Neara's success is notable within Australian tech, showing the potential impact of AI on vital systems but with limited focus on the broader AI safety discourse.
Body
TechnologyFundingPrint articlePaul SmithTechnology editorFeb 10, 2026 – 5.00amNeara, which deploys artificial intelligence to reinvent global power grids, has become the country’s latest start-up to achieve so-called unicorn status, with a new funding round valuing it at more than $1 billion.Neara has attracted an international customer base of electricity distribution companies such as Scottish Power, Ausgrid and SA Power Networks, which use its AI models to predict what would happen in scenarios such as extreme weather events or how power can be better used or saved.Loading...Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreFundingAIInfrastructurePower networkData centresEnergyRenewablesFetching latest articles