Street Talk

$300m RMIT offshoot IND Technology seeks PE backers

Sarah Thompson, Kanika Sood and Emma Rapaport

May 21, 2025 – 5.00am

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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.

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.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.