Neara reaches unicorn status with AI models to reinvent power grids

Neara, which uses artificial intelligence to reinvent global power grids, is the country’s latest startup to achieve so-called unicorn status, with a new round of funding worth more than $1 billion.

Neara has gained an international customer base from electricity distribution companies such as Scottish Power, Ausgrid and SA Power Networks, who use their AI models to predict what would happen in scenarios such as extreme weather events or how electricity can be better used or saved.

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