Prosus Ventures invests in $10M Series B extension, augmenting the company’s AI capabilities in natural disaster mitigation and clean energy integration
SYDNEY–(BUSINESS WIRE)–Neara, the first infrastructure modeling platform that uses artificial intelligence (AI) to create 3D, network-wide models for engineering-grade simulations and analytics, today announced a $10M capital raise extension and a novel case study to double existing line capacity for renewable energy. The round featured participation by Prosus Ventures and was supported by Neara’s existing investors, Skip Capital and Square Peg Capital. This increases Neara’s total Series B funding to $24M. Neara will use the new investment to accelerate its global expansion, in addition to further developing the company’s new System of Enablement functionality. This unified model removes many of the constraints that prevent renewable generation from connecting to the grid, particularly with respect to network availability a
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