Australian-based energy technology company IND Technology has closed a $50 million first institutional funding round to scale its AI-powered Early Fault Detection system, which spots electrical faults in power grids before they spark outages or wildfires.
The round drew lead investments from U.S. energy specialists Angeleno Group and Energy Impact Partners, alongside Southern California’s Edison and Australia’s Virescent. This capital arrives as utilities worldwide grapple with aging infrastructure amid rising wildfire risks and extreme weather.
The news also comes at a critical moment for power companies worldwide. Extreme weather events have caused devastating fires from faulty lines, like Australia’s 2009 Black Saturday bushfires that killed over 100 people. IND’s founders built the company straight out of that tragedy, with a determination to stop repeats of cases like that.
As such, the capital will accelerate deployment of IND Technology’s flagship Early Fault Detection (EFD) system, an AI and machine learning-powered platform designed to identify electrical faults in power grids before they escalate into outages, safety hazards, or wildfires.
How IND Technology EFD System works
IND Technology’s EFD system stands as a fundamental shift from reactive to proactive grid maintenance. EFD deploys sensors on power poles with a spacing of up to five kilometers apart. These devices pick up radio-frequency signals from stressed components like damaged insulators, loose connectors, or early arcing, with AI then crunching the data and pinpointing issues within 10 meters.
Unlike traditional patrols or scheduled checks, EFD runs continuously. It flags precursors like vegetation brushing lines, broken conductor strands, or internal equipment flaws. Utilities crews get exact locations for quick fixes as the system integrates seamlessly with utility operations.
The company’s proven success is demonstrated by its track record, as the EFD system has prevented over 500 potential fire incidents globally and has been deployed across seven countries so far.
IND’s proven track record fuels Investor Confidence
IND started in 2013, founded by Professor Alan Wong and Kok Wai Leu. Bootstrapped for over a decade, it finally scaled through real-world deployments. Today, it serves utility firms in the U.S., Canada, Australia, Malaysia, and Europe.
Investors no doubt see massive potential. Anil Tammineedi from Angeleno Group noted IND sits at the intersection of electrification growth, climate hazards, and the use of AI to mitigate these risks. Energy Impact Partners also highlighted the company’s role in building and maintaining grid resilience.
The $50 million funding will be used in turning priorities for IND to clear results, which includes bigger field teams, more machine learning engineers, refined AI for fewer false alarms, and expanded sensor networks. This setup positions IND to cover more miles of utility line faster.
Why this matters for Utilities and Communities
Wildfires tied to power infrastructure keep increasing in numbers due to climate change. For instance, California’s 2018 Camp Fire, sparked by PG&E equipment, killed 85, displaced more than 50,000 people, and destroyed over 18,000 structures. Similar events also hit Australia, Canada, and Europe, making regulators now demand better prevention.
IND’s tech introduces a shift in grids from reactive to predictive. While calendar-based inspections may cause utility teams to miss faults between visits, EFD’s always-on monitoring catches them early, saving lives and billions in damages.
Communities benefit, too. Fewer fires mean safer air, less evacuation stress and trauma, as well as stable power. For utility companies, it’s lower liability and more investors betting on the model’s scalability as climate pressures mount.
IND Technology’s bet on AI for Wildfire prevention
This funding round marks IND’s move from startup to scale-up. $50 million raised in a funding round signifies trust in a tech that’s already and will continue to save grids worldwide.
Power grids are an important aspect of modern life – homes, hospitals, factories – and any unchecked mistake here cascades fast. IND’s AI makes them easy to catch and solve, which further aligns with global pushes for resilient energy.
This funding round is also part of a much larger trend of grid resilience-focused tech companies securing huge raises to scale their business towards mitigating wildfires, as evident in the latest $43 million Series B funding raised for Amsterdam-based Overstory to continue helping utilities prevent wildfires and power outages through satellite-based artificial intelligence (AI).
