OIF Ventures backs Trendspek's $6M push to keep ageing infrastructure standing

Trendspek, the Sydney software company that turns drone, robotics and handheld inspection data into 3D condition records for critical infrastructure, has raised $6M in a round led by OIF Ventures.

The raise lands almost four years after the company's $6.3 million Series A in December 2022, and it comes with an explicit geographic ambition: Trendspek wants to expand into North America and Europe, where it already counts Canada's Suncor Energy and the Port of Rotterdam among its users. The funding will support hiring, product development and customer support overseas, as well as a sharper push into AI analysis of asset condition.

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 customer list includes 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 the platform to access over 1,700 sites digitally, with 128,000 virtual site visits completed.

The problem it attacks is one any manager of an ageing asset recognises: working out what needs attention now, what can wait, and whether repairs actually worked. Feebrey said inspection findings often sit scattered across PDFs, spreadsheets and individual employees' knowledge, which makes deterioration hard to track.

"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 founding trio borrowed from aviation, where components carry documented service histories, to build a shared record infrastructure teams can update over time. Trendspek combines capture from drones, robotics and handheld inspections into a detailed 3D model within hours; engineers and maintenance crews then flag defects, add notes and take measurements directly on the record.

The approach has produced measurable results. NSW Ports, which oversees Port Botany and Port Kembla, has cut the cost of a full jetty inspection by two-thirds and reduced timelines from months to weeks. Vocus has halved site mobilisation time, while engineering firm WGA has halved inspection times on large container cranes.

With seven years of inspection data now collated, Trendspek's next task is applying AI to reduce the time engineers spend reviewing imagery, training models to flag likely problems and detect changes between inspections. OIF Ventures investor Oliver Darwin said the inspection history sits at the centre of the company's value, describing the dataset as one that compounds with every inspection.