Beverly Hills-based venture capital and growth equity firm Angeleno Group and global energy investor Energy Impact Partners committed $50 million in Australian dollars to IND Technology, a leading provider of systems that detect grid failures.

The pledge, worth roughly over $33 million U.S. dollars and announced Dec. 15, is an extension of the firm’s clean-energy and climate-focused investment strategy and will support product deployment and machine learning engineering development at IND.

The round included participation from Rosemead-based utility holding company Edison International and Virescent, Australia’s largest dedicated climate and energy venture investor.

More than a dozen U.S. utilities, including Southern California Edison, use Melbourne-based IND’s signature Early Fault Detection technology to prevent power outages and reduce fire risk. The company counts more than 5,900 devices deployed nationwide and another 9,000 units on the way.

Investment in systems that automate grid inspections became critical on the heels of the January 2025 wildfires in L.A., said Anil Tammineedi, a partner at Angeleno Group who leads the firm’s investments in grid technologies. Investigations into the Eaton Fire, which devastated the foothill community of Altadena, found SoCal Edison’s transmission and distribution line faults likely contributed to the blaze’s spark.

‘Investment thesis’

IND’s continuous monitoring improves upon the periodic visual inspection utilities traditionally conduct, Tammineedi said, allowing for automated early fault alerts.

“Our investment thesis is about reducing operations and maintenance expenses and making the grid more reliable overall,” he said.

The IND commitment brings Angeleno Group’s active investments to a total of 13 across three funds. The firm, which with its founding in 2001 became one of the first to focus on sustainability and climate solutions investments, has seen its portfolio companies increase in value by roughly $10 billion.

IND has considerable opportunities for growth, Tammineedi said, as utilities in Australia, the U.S. and beyond adopt wildfire mitigation plans, which often include EFD technology. SoCal Edison plans to install 200 EFD units by the year’s end and a total of 600 by 2028.  

As a major innovator in EFD systems, with patented machine learning and AI algorithms, IND is well-positioned to respond to increased pressure on grids, Tammineedi said, as electrification ramps up, infrastructure ages and climate risk rises. 

Alongside technological development, building out the company’s stateside and global presence is a primary goal. Angeleno Group’s partners were impressed by IND’s scaling and expansion into the U.S. without support from institutional capital, Tammineedi said.

“This company is really exciting,” he said, “not just from individual merits, but its potential to change and to create a positive impact for the industry.”