The round was led by OIF Ventures. The Sydney scaleup last raised a $6.3 million Series A in December 2022.
The funding will support hiring, product development and customer support overseas, where Trendspek already works with Canada’s Suncor Energy and the Port of Rotterdam.
Founded in 2019 by former Qantas pilots Derek Feebrey, Fiona Church and Mitch Deam, Trendspek builds 3D condition records for infrastructure such as ports, energy facilities and telecommunications networks.
Its customers include Chevron, Woodside Energy, NSW Ports, Grain LNG and Vocus. Revenue from critical infrastructure customers has grown annually by 165% over the past three years.
More than 860 organisations use Trendspek to access over 1,700 sites digitally, with 128,000 virtual site visits completed. The platform tackles a problem anyone managing an ageing asset faces: identifying what needs attention, or can wait and whether repairs are working.
Feebrey explained that inspection findings often sit across PDFs, spreadsheets and the knowledge of individual employees, making it harder to track deterioration.
“Most asset owners we meet are not short of inspection data. They are short of a reliable picture of what they own, what condition it is in and what is changing,” he said.
The trio drew on aviation’s approach to maintenance, where components have documented service histories, to build a shared record that infrastructure teams can update over time.
Trendspek combines data captured by drones, robotics and handheld inspections into a detailed 3D model within hours. Engineers and maintenance teams can flag defects, add notes and take measurements directly on the record.
NSW Ports, which oversees Port Botany and Port Kembla, has reduced the cost of a full jetty inspection by two-thirds using Trendspek, also cutting timelines from months to weeks.
Meanwhile, Vocus has halved site mobilisation time, while engineering firm WGA has halved inspection times on large container cranes.
“We’ve seen three key improvements from using Trendspek’s 3D platform: we’re working more efficiently, we’re saving money on travel and resources, and we’ve removed high-risk activity that a drone can now handle instead,” Mark Gasseling from Vocus said.
Feebrey said the size of the problem is vast: the global infrastructure investment shortfall is predicted to hit US$15 trillion by 2040; and Infrastructure Australia forecasts a shortage of 141,000 infrastructure workers.
“There is not enough capital to rebuild ageing infrastructure and not enough engineers to inspect it the way we always have, so the job now is getting more life out of what is already there,” Feebrey said.
Next on Trendspek’s to do list, having collated seven years of inspection data, is using AI to reduce the time engineers spend reviewing inspection imagery, training the models to flag likely problems and detect changes between inspections.
OIF Ventures investor Oliver Darwin said the startup’s inspection history was central to its value.
“Trendspek has built the condition layer that owners of some of the world’s most critical assets now rely on, and the dataset behind it compounds with every inspection,” he said.
“These assets are getting older and more complex, while the tools used to manage them have stood still. We’re incredibly excited to be backing Derek, Fiona, Mitch and the team as they build the global standard for how critical infrastructure is managed.”
