Virescent Ventures has invested in IND Technology, a Melbourne-based company specializing in early fault detection solutions for utilities, addressing pressing challenges in grid reliability and climate resilience.

Information on the Target

IND Technology, headquartered in Melbourne, Australia, is a pioneering grid-tech company specializing in early fault detection for transmission and distribution utilities. Its innovative solutions enhance network reliability and play a critical role in preventing bushfires. Since its inception in 2013, IND has expanded its operations globally, establishing a presence in the U.S., Canada, and Malaysia. The company has developed a patented Early Fault Detection (EFD) system, utilizing advanced radio-frequency sensors and proprietary analytics to identify emerging faults before they escalate into outages or catastrophic events.

With a robust clientele that includes major utilities like AusNet Services, Powercor, and Southern California Edison, IND has solidified its position as a leader in the climate-tech sector. Recognition as one of the Australian Financial Review’s Fast 100 in 2024 underscores the company's rapid growth and impactful contributions to grid reliability and safety.

Industry Overview in Australia

The electricity grid industry in Australia faces significant challenges due to aging infrastructure and the rising threat of climate-related incidents, such as bushfires. Recent scrutiny surrounding utility management practices has intensified following devastating events like the W