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$300m RMIT offshoot IND Technology seeks PE backers

IND Technology, the electricity grid safety start-up that was spun out of RMIT, is already among the country’s fastest-growing tech plays. Now it is seeking big money and an institutional investor, rattling the can for between $50 million and $60 million in return for a minority stake.

The Melbourne-headquartered business makes early fault detection systems for electricity grid operators. If it is successful in its raise ambitions, IND Technology could be worth between $200 million and $300 million.

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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com

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Original URL: https://www.afr.com/street-talk/300m-rmit-offshoot-ind-technology-seeks-pe-backers-20250520-p5m0s2