DLA Piper advises Australian tech unicorn Neara on AUD90 million Series D funding round

Global law firm DLA Piper has advised Australian-founded critical infrastructure start-up Neara on its AUD90 million Series D funding round. The investment supports Neara's global growth plans for its digital twin modelling technology. 

This landmark funding round values Neara at more than AUD1 billion, cementing its position as a category-defining infrastructure intelligence platform. It also supports Neara's ambition to continue to expand its global business – helping to address challenges across access to energy, ageing grid infrastructure, the energy transition, and the rise of AI and data centres.

Neara uses AI and machine learning to create 3D digital models of critical infrastructure networks. These models help utilities and network operators better understand how assets behave and respond to real-world conditions. 

DLA Piper advised Neara across all aspects of the Series D fundraising. The team led negotiations with lead investor TCV, and worked closely with repeat investors Partners Group, EQT, Square Peg and Skip Capital. 

Neara's Series D funding round was undertaken rapidly after its Series C funding round just over a year earlier. The tight timeframe required an innovative approach to introduce a new lead investor while supporting participation from other well-known venture capital investors. 

This engagement demonstrates DLA Piper's ability to deliver rapid, cross-border transactional advice on market-leading venture capital matters. The team seamlessly supported Neara through its Australian and US presence. Melbourne-based corporate partner Dylan Burke led the matter, alongside fellow corporate partner John Hutar from the firm's Silicon Valley office. Further support was provided by Melbourne-based Corporate partner Joel Cox and solicitor Nathaniel Law. 

Commenting on the transaction, DLA Piper corporate partner Dylan Burke said: "Neara is a fantastic example of Australian-founded tech innovation taking the world by storm. It is at the forefront of the AI and data centre boom and is helping to address the energy challenges linked to that growth. This latest capital raising will assist Neara to grow its global business – and we remain committed to supporting its long-term growth ambitions as it continues to showcase its impressive product offering on the world stage."

Tom Gooch, VP Commercial at Neara said: “It was a pleasure to work with Dylan and John on this transaction. We were founded in Australia but are now rapidly growing in North America, and it was very helpful to have a single firm advise on the transaction from both Australian and US perspectives.”