Trendspek, whose 3D condition records are used by Chevron, Woodside Energy and NSW Ports, has raised A$6 million led by OIF Ventures to expand into North America and Europe and put AI to work on defect detection.
SYDNEY, 30 September 2026 — Trendspek, an Australian software company that keeps the condition record for critical infrastructure including ports, energy facilities and telecommunications networks, has raised A$6 million in a round led by OIF Ventures. The money will fund expansion into North America and Europe and accelerate the company's AI roadmap.
The raise comes as asset owners run into a hard limit. Infrastructure everywhere is ageing faster than it can be replaced, and neither the capital nor the workforce exists to rebuild it. The Global Infrastructure Hub puts the global infrastructure investment shortfall at US$15 trillion by 2040. In Australia, Infrastructure Australia forecasts a shortage of 141,000 infrastructure workers, with engineers among the hardest hit. Asset owners are being asked to keep older assets safe and productive for longer, with less money and fewer engineers to do it.
Derek Feebrey, Chief Executive Officer of Trendspek says:
“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. 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. That only works if the condition record is accurate and it holds up over time."
Trendspek was founded in 2019 by three former Qantas pilots, Derek Feebrey, Fiona Church and Mitch Deam. Aviation runs the most disciplined asset integrity regime of any industry, where every component has a service history and nothing gets signed off on memory. The founders built Trendspek to bring that standard to infrastructure, where inspection findings still routinely end up in PDFs, spreadsheets and the heads of people who are about to retire.
The platform ingests data captured by drones, robotics and handheld inspection, and turns it into a high-accuracy 3D record of an asset within hours. Inspection, engineering, maintenance and capital works teams work on that record together, flagging defects, adding notes and measuring directly on the asset. Because every capture is anchored to the same record, teams can see how a crack, a corroded weld or a failing coating has changed since the last inspection, which is the evidence that supports a repair-or-replace decision.
That evidence is showing up as money saved. NSW Ports, which oversees Port Botany and Port Kembla, reports that a full jetty inspection now costs about a third of what it did previously, with inspection timelines cut from months to weeks. Telecommunications provider Vocus has halved site mobilisation time, and engineering firm WGA has halved inspection times on large-scale 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.” said Mark Gasseling, Underground & METS Solutions Team Lead at Vocus.
Revenue from critical infrastructure customers has grown at a compound annual growth rate of 165 per cent over the past three years, with Chevron, Woodside Energy, NSW Ports, Grain LNG and Vocus among the customers driving that growth. More than 860 organisations now use Trendspek to access over 1,700 sites digitally, and 128,000 virtual site visits have been completed.
Those sites are also the foundation of the company's AI work. Seven years of inspections have produced a large body of defects that engineers have already identified, classified and tracked over time, across asset types and operating environments. Trendspek is using that data to train models that flag likely defects automatically and, more usefully, detect how a known defect has changed between captures. The aim is to let a shrinking pool of engineers spend their time on judgement rather than on reviewing imagery.
Oliver Darwin, Investor at OIF says:
“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. 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."
The investment will support team growth, accelerate Trendspek's product roadmap and expand expert support for customers in North America and Europe, where the company already works with organisations including Suncor Energy in Canada and Port of Rotterdam, the largest seaport in Europe.
Trendspek is the system of record for asset condition, risk and capital decisions. Founded in Sydney in 2019, Trendspek turns inspection data into a high-accuracy 3D record that engineering, maintenance and capital works teams use to inspect, mark up, measure and report on critical assets.
OIF Ventures is an Australian venture capital firm founded in 2016 and based in Sydney. The firm backs early-stage technology companies across enterprise software, fintech, cybersecurity and construction technology and has invested in more than 50 companies to date.
